Tax Warrior Chronicles

State & Local Tax Deduction Workarounds in IRS Crosshairs

Posted on Thu, May 24, 2018

Daniel Marques, CPA, MT

Chris Catarino, CPA, MT


State and local governments and taxpayers beware - the IRS has its eyes on recent proposals designed to circumvent the new $10,000 limit on state and local tax deductions imposed by the Tax Cuts and Jobs Act (TCJA).  For the time being, you may want to hold off on making contributions to these newly established state and local tax credit funds if you expect to receive a federal charitable contribution deduction in return. Here's why...

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The Tax Ins and Outs of Short-Term Rentals

Posted on Mon, May 22, 2017

By: Adele Kilgus, CPA


Summer is quickly approaching, which means weekend getaways for fun in the sun. If you are looking for extra income to fund your relaxation time, you might rent your home to summer travelers while you are out of town. Airbnb, HomeAway, and other similar services make the process of short-term renting much simpler by handling all booking and collecting of payments. However, even with the added simplicity, there are still some important tax implications to consider. With proper planning, you can maximize your extra income and minimize any extra tax liability.

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PA Supreme Court Affirms Philadelphia "Super Credit"

Posted on Mon, Nov 25, 2013


Philadelphia area suburbanites who receive earned income from working both in and out of the City of Philadelphia can welcome a recent Pennsylvania Supreme Court decision. 

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Bleak Future for Philadelphia Super Tax Credit & EIT

Posted on Tue, Jun 26, 2012

Montgomery County (“MC”) residents and other Philadelphia area suburbanites subject to local earned income tax (“EIT”) should be aware of major changes resulting from a new policy adopted by the MC Tax Collection Committee (“TCC”).  This new policy will determine how certain tax credits will be calculated for the 2012 tax year on the EIT return to be filed in April 2013.

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