Do you hear that sound? That is the sound of tax professionals across the country fluttering through the pages of the tax bill trying to figure out how to extract the maximum gain for their clients. That’s the question on the minds homeowners across the country, especially those in states with the highest property taxes. They’re looking to prepay 2018 bills ahead of a $10,000 cap on the deduction for state and local taxes, which include those on property. Taxpayers are also scrambling to find loopholes buried in the new tax code.
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