CPAs around the country are still trying to figure out how the recent national tax reform will impact their clients at the federal level. But they’re also interested in how it will impact their clients at the state level. In this podcast, guest Eileen Sherr, a CPA and CGMA who is an AICPA tax expert, addresses some of the key questions CPAs — and their clients — need answered.
What you’ll learn in this podcast:
- What kinds of state taxes are included in the new $10,000 cap of the state and local tax deduction?
- Has the IRS provided any guidance on the specifics of the $10,000 cap?
- Why are various states so concerned about the impact of this cap, and how significant is the impact?
- What responses have the states had so far to the federal SALT tax deduction $10,000 cap?
- What resources are available for further analysis of the state tax impact of the new federal rules?
Play the episode below: