2018 SS+G Year-End Newsletter
As year-end quickly approaches, we want to thank you for trusting us as your tax return preparer and advisor. We truly value our relationship and hope to serve you for many years to come. It's hard to believe that almost one year has passed since President Trump signed into law the Tax Cuts and Jobs Act (TCJA). This sweeping tax package drastically changed the way federal income taxes are calculated. From brand new provisions to significantly revised forms, extra time and resources will be needed to ensure we properly report your tax situation next year.
Here are some relatively fool proof year-end tax planning strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA).
Should You Prepay 2016 Illinois Real Estate Tax in 2017?
A frequently asked question in the month of December is "Can I prepay my real estate taxes for the 2016 year which are not billed to me until the 2017 year?" In Illinois and more specifically, the counties that make up the Chicago Metropolitan Area, the answer is generally YES, but it depends on the county in which you live.
REGULATORY FILING REQUIREMENT:
Mandatory Unclaimed Property Reporting