Stephen Dale Burcham: Bill impacts state, local taxes
The tax bill in Congress has several features which could impact your personal federal tax return.
One of those features is the deduction for state and local taxes, which includes property taxes.
As a result of a new limit on the amount that you are allowed to deduct as an itemized deduction on Schedule A, and an increase in the standard deduction in order to itemize for the 2018 calendar year, you may want to consider paying your property taxes, normally paid in 2018, on or before Dec. 31, 2017.
My office will be open to collect any payments that you want to make through Friday, Dec. 29 at 4 p.m.
Of course, you should consult a tax advisor to determine the impact, if any, to your tax return.
Please call my office if you have any questions.
Stephen D. Burcham
Lawrence County treasurer