 2018 tax plan (by Henry [IL]) Aug 11, 2018 8:48 AM
 2018 tax plan (by AllyM [NJ]) Aug 11, 2018 12:00 PM
2018 tax plan (by AllyM [NJ]) Aug 11, 2018 12:00 PM
2018 tax plan (by Marv [IL]) Aug 13, 2018 5:33 AM
2018 tax plan (by Henry [IL]) Posted on: Aug 11, 2018 8:48 AM
Message:
LLC rentals in Illinois allows you to depreciate the property over the course of 27.5 years. The 2018 GOP tax plan allows LLC's 20% off of taxable income to be excluded. Does the 20% tax exclusion apply to rental properties in Illinois as well?
Henry --73.110.xx.xx |
2018 tax plan (by AllyM [NJ]) Posted on: Aug 11, 2018 12:00 PM
Message:
The 27.5 I believe is Federal so all over the US. If the Federal tax plan allows 20 percent off taxable then it would be nationwide wouldn't it? Of course NJ is trying to defeat the GOP tax breaks to companies by applying new taxes. Lets see how many industries leave NJ. --73.178.xxx.xx |
2018 tax plan (by AllyM [NJ]) Posted on: Aug 11, 2018 12:00 PM
Message:
The 27.5 I believe is Federal so all over the US. If the Federal tax plan allows 20 percent off taxable then it would be nationwide wouldn't it? Of course NJ is trying to defeat the GOP tax breaks to companies by applying new taxes. Lets see how many industries leave NJ. --73.178.xxx.xx |
2018 tax plan (by Marv [IL]) Posted on: Aug 13, 2018 5:33 AM
Message:
20% is nation wide on for federal return.
My guess is that Illinois will have you add back that deduction. --173.15.xx.xxx |
Reply:
|
|