Administrative/Regulatory,
Government,
Tax
Jan. 30, 2018
Mitigating the new limit on home property tax deductions
New Internal Revenue Code Section 164(b)(6), titled Limitation On Individual Deductions for Taxable Years 2018-2025, prevents an individual from deducting more than $10,000 of state and local taxes.
Owen Kaye
Managing Partner
KFB Law Group
12100 Wilshire Blvd #245
Los Angeles , CA 90025
Phone: (310) 207-8008
Fax: (310) 207-8708
Email: owen@kfblawgroup.com
Western State Univ College of Law
One irritating aspect of the new tax law for Californians is the limit on the deductibility of state and local taxes. New Internal Revenue Code Section 164(b)(6), titled Limitation On Individual Deductions for Taxable Years 2018-2025, prevents an individual from deducting more than $10,000 of state and local taxes.
Assume Joe and Jane, a married couple, both lawyers, make $500,000 per year and live in a $1.5 million home (which is n...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$895, but save $100 when you subscribe today… Just $795 for the first year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In