The new tax law has many impacts on state income taxes in 2018. The law limits the deductibility of state income taxes for federal purposes. It also raises the federal standard deduction amount. However, taxpayers should consider the impact on their state income tax of the decisions they make to minimize their federal taxes. This article examines why.
New Tax Law May Affect State Income Tax, Too!
A graduate of Boston University School of Law, Scott P. Schomer is a frequent lecturer on estate planning and elder law issues, having discussed these important issues on local and national television. A seasoned courtroom advocate, Scott has obtained combined judgments and verdicts in excess of twenty-five million dollars for his clients. Scott has served as a member of the Los Angeles Superior Court Probate Volunteer Panel (PVP Attorney), Probate Settlement Panel and a Judge Pro Tempore. Scott's expertise has been recognized by his peers with such accolades as a life-time membership in the Multi-Million Dollar Advocates Forum, the Five Star Wealth Manager designation, and repeated nominations as California Super Lawyer.
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