Early payment of 2018 property tax.
Also pay the 4th installment of your 2017 NJ income tax before the end of the year, instead of waiting until Jan. 16, 2018. In fact, overpay so that you have a refund on your 2017 NJ income tax and apply it against your 2018 NJ income tax. You won't get any deduction on your federal tax in 2018.
This is all dependent on a tax bill being passed before year-end.
Formerlyjerseyjack said:
A public radio broadcast today mentioned the potential savings from paying next year's property tax this year.
If the Republican tax plan comes into being, fewer people will choose itemized deductions. Property taxes paid this year MIGHT be itemizable. (Hey I made a new word).
All this was pretty well brought up over a week ago in the ""The GOP Tax Reform/Cuts Plan" thread.
But its good to bring this up again, to concentrate this issue and possible relief. The smart thing is to take advantage now, before its too late.
And yes, do a 4th Qtr estimated tax payment before end of year. Move the tax liability to this year, even if its an overpayment. A significant savings.
Featured Events
Sponsored Business
Promote your business here - Businesses get highlighted throughout the site and you can add a deal.
A public radio broadcast today mentioned the potential savings from paying next year's property tax this year.
If the Republican tax plan comes into being, fewer people will choose itemized deductions. Property taxes paid this year MIGHT be itemizable. (Hey I made a new word).