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NCSL Town Hall: State Budgets and Taxes In the 2024 legislative sessions, lawmakers in many states will grapple with property tax relief and some will consider other tax reductions. Overall, states remain fiscally stable, but legislatures face slowing revenue growth and other challenges. Join us as NCSL’s fiscal policy experts Erica MacKellar and Eric Syverson discuss these topics and more.

In the 2024 legislative sessions, lawmakers in many states will grapple with property tax relief and some will consider other tax reductions. Overall, states remain fiscally stable, but legislatures face slowing revenue growth and other challenges. Join us on Feb. 21 as NCSL’s fiscal policy experts Erica MacKellar and Eric Syverson discuss these topics and more: https://fb.me/e/81EMH0vNR

With the estate and gift tax exemptions from the Tax Cuts and Jobs Act set to expire at the end of 2025, the time for proactive estate planning is now. Current exemptions allow individuals and families to gift $13.61 million and $27.22 million, respectively, tax-free. However, without legislative intervention, these amounts will drastically decrease by almost 50%, impacting estates valued above these levels with potential taxes as high as 40%. Estate planning is crucial for wealth preservation and ensuring your legacy is distributed according to your wishes. Don't wait; start planning today. To learn more read this article from the Two River Times: https://bit.ly/3xhR0jg If you haven't started planning, now may be the time. Contact your Buckley Fine attorney today. #BuckleyFineLaw #IllinoisLawFirm #Barrington #LawFirm #EstatePlanning2024 #TaxExemptionDeadline #GiftTax #FinancialLegacy

The jury is out whether a wealth tax (forcing taxpayers to recognize capital gain annually) is constitutional. If the Democrats regain the House, keep the Senate, and the Presidency, then expect a wealth tax and an epic SCOTUS battle. #WealthTaxDebate https://shorturl.at/J6L9K

📣 Tax Deadline Extension Alert! 📅 Taxpayers in Maine or Massachusetts, mark your calendars: you have until April 17, 2024, to file your taxes due to the Patriot's Day and Emancipation Day holidays. And if you're in a federally declared disaster area, you may have even more time to file. Stay informed and ensure you meet your tax obligations on time! #TaxDeadline #Maine #Massachusetts #IRSUpdate

Need to file in more than one state? 📃📄Clients who need to do their tax returns in Georgia, California, AND New York often get caught over- or under-paying. No matter where you hang your hat, pay the right amount of taxes to your state(s) of residence.  🏡🏠Read LittleOwl CPA’s tax tips for individuals with #multiplehomes, apartments and vacation houses.  #individualtax #taxplanning

It's tax season! And that means you may have questions about the tax advantages of owning real estate. Here's what you need to know... Q: Are property taxes deductible in the state of Alabama? A: Yes! Property taxes paid on real estate owned by an individual can typically be deducted from their taxable income. Consult a tax professional or financial advisor to ask about tax advantages and how they may apply to your specific situation. #taxseason #homeownertaxes #benefitsofhomeowership #higherstandardhomes

The TaxProf: Thomas: Tax And The Myth Of The Family Farm: Kathleen DeLaney Thomas (North Carolina; Google Scholar), Tax and the Myth of the Family Farm, 110 Iowa L. Rev. __ (2024): With income and wealth inequality at historically high levels, policymakers have looked to the tax system as a potential road to reform. Specifically, new taxes on wealth or inheritances... http://dlvr.it/T36M6P @SoCalTaxProf #Tax #Policy #Law

Hey there, fellow taxpayers! 👐 Taxes can sometimes feel like a mountain of paperwork ⛰️, but this year, SARS is like that kind uncle who helps you out and takes a load off your shoulders. Whether you were auto-assessed or not, let’s break it down so it’s easy to understand. Think of it as a friendly guide from your favorite uncle! 😊 Read more: https://wix.to/rGXv8Y5 #newblogpost

🛑 Maryland business owners 🛑 Have you claimed the MarylandSaves tax exemption? If not, Maryland has extended the deadline to December 31, 2023 for applicable businesses. Here are the details owners need to know. 👇 #businessowners #MarylandSaves #taxexemption https://bit.ly/3RLibcS