New SALT Deduction Limit: What Clients Need to Know

TCJA caps deduction at $10,000.

By Barry J. Friedman, CPA
IndustryNewsletters

The IRS is taking a look at the deductibility of state and local tax payments for federal income tax purposes in the wake of tax reform. So what’s happening with this complicated issue?

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The IRS will be addressing the deductibility of state and local tax payments for federal income tax purposes. It’s a reminder that federal law controls payments for federal income tax purposes no matter how state law wants to view things.

Posted on October 24, 2018

Barry J. Friedman, CPA

About the Author

Barry J. Friedman, CPA, is CEO of IndustryNewsletters.

The accompanying article is one of the most popular among CPA firm clients in the IndustryNewsletters network, indicating strong client interest in the subject and potentially significant service opportunities for practitioners.

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Friedman brings more than 35 years of experience building and managing CPA firms, as well as digital marketing firms. Barry sold his regional accounting firm, Friedman & Fuller, to American Express and then created BizActions, LLC which became the first and most widely adopted email marketing service for CPA and payroll firms, which he sold to Thomson Reuters in 2012. Previously, he was the founder and CEO of GovCon where he developed an online electronic commerce community that brought together thousands of IT contractors and hundreds of government entities. He earned an MBA in Business Administration from Loyola College and taught Financial Management in that program for three years.

IndustryNewsletters is a powerful, easy-to-use digital marketing tool for professional services firms with a large and growing library of timely, relevant content. This robust platform includes an email newsletter service, OnTarget email blast tool, Social Sharing tool, Reporting, and more, to assist you in adding value for your clients and growing your business.

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