Скачать или смотреть Don't Rely Wholly on Tax Software or Return Preparers

Don't Rely Wholly on Tax Software or Return Preparers

We are responsible for our own financial lives. Keep that in mind when relying on tax preparation software or even on tax return preparers. Today, let’s discuss the differences that may exist between federal and state income tax laws. For example, California doesn’t conform to the changes wrought by the Tax Cuts and Jobs Act. This means that the federal government and State of California have different limitations on deductible mortgage interest or property taxes. There are also certain other itemized deductions that the state will allow that the federal government does not. And these are just some of the differences. What this means is that the data input on the federal return may not be sufficient to minimize your state taxes. So closely review both the federal and state returns that your tax software or return preparer send you. You’re ultimately responsible for paying the determined tax, not them.

#kimandrosadollp #taxlawyer #tax #TaxSeason2024