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Showing posts with label tax deductions. Show all posts
Showing posts with label tax deductions. Show all posts

Friday, December 29, 2017

29 Dec

Tax Deductions on 2018 Real Property Taxes Assessed and Prepaid in 2017

On December 27, 2017, the Internal Revenue Service advised tax professionals and taxpayers that 2018 state and local real property taxes paid in 2017 and assessed prior to 2018 are tax deductible in 2017. It is important to note that the real property taxes must be assessed and not merely estimated prior to 2018. The...