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Otsego County Room Occupancy Tax Return Form

Otsego County Room Occupancy Tax Return Form

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hey everybody this week on the business  owners corner i want to cover a potential   tax saving strategy that could save  you a couple thousand dollars or more   in taxes if used appropriately the name of  the maneuver is called the salt deduction   workaround and here's the background salt is  an acronym stands for state and local taxes   and if you recall how our itemized versus standard  deductions work every year when you file your   taxes your personal taxes that is you add up the  total amount of itemized deductions that you have   and generally that includes mortgage interest  state and local taxes and gifts to charity   now you might recall a few years ago when  president trump was in office he passed a bill   called the tax cut and jobs act this was at the  end of 2017 it became effective in 2018. prior to   that bill we were free to deduct all of our state  and local taxes paid on our federal returns that   bill limited state and local ta

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