Phil L. Liberatore CPA, A Professional Corporation is working hard to keep you informed and up to date on current tax and accounting news potentially affecting you, your families and your business. THE TAX REFORM BILL PASSED CONGRESS – What should I do? Congress has put a bow on the biggest tax cut bill since 1986.It is estimated that 80% of tax payers will see some form of a reduction in their tax bill. The legislation will go into effect Jan. 1, 2018. Tax filings for the 2017 year will largely resemble your 2016 tax return. OUR RECOMMENDATIONS: Take a close look at your state income taxes that could be due for 2017. If you own your home and itemize your tax deductions, consider winter property tax bill by December 31, 2017. If you typically owe state income taxes, consider making an estimated tax payment by the end of December. The state and local income Continue reading about THE TAX REFORM BILL PASSED CONGRESS – What should I do?
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