Episode description
As you may or may not be aware, there is a $10,000 cap on certain deductions on your tax return. This really impacts those living in states with income tax as well as homeowners. But more and more states are releasing legislation that provides a workaround for this cap. The issue, at least for 2021, is action needs to be taken before year-end to make this happen. But the reward is potentially a tremendous amount of tax savings.
In this episode, we break down what the cap pertains to and how you can go about getting tax savings you’re entitled to.