One of the most talked about reforms enacted in the Tax Cuts and Jobs Act (TCJA) was the limitation on the ability for taxpayers to deduct state and local taxes in excess of $10,000. Dario Arezzo, Senior Tax Consultant, gives readers insight into how to interpret these regulations.
Just a few weeks ago, Governor Cuomo signed into law New York State’s latest budget. The big takeaway for New York State estate planning is the retroactive reinstatement of the “three-year claw back." Dario Arezzo, Senior Tax Consultant, gives readers the details of this revival.
If you are a sales tax enthusiast, you may be tired of hearing people say the name Wayfair! If you are not such an enthusiast, this is probably the first time you have heard the name. Michele Murray, Farm Credit East Financial Services Leader, explains the general rules of this post-Wayfair environment in our Northeast states.