As you are all aware this tax season there are going to be a lot of changes when filing your 2018 federal tax return. What you may not be aware of is that New York State is not going to be following the new IRS tax changes. They are going to continue to follow the state tax laws from 2017. What this may mean for many of you is that while you may not itemize your deductions with your federal income tax return you may end up itemizing with your New York State income tax return.
We wanted everyone to be aware so you do not forget to bring a list of all your charitable contributions, unreimbursed business expenses and medical expenses when you come to have your 2018 income tax return prepared.