Home Subscriber Only Hot Topic Biz owners gain from tax-shift bill

Biz owners gain from tax-shift bill

Rep. Joseph Shekarchi, the House Majority Leader, is the chief sponsor of legislation that would allow small businesses in Rhode Island to reduce their federal tax liability. / Courtesy Rhode Island General Assembly.
Rep. Joseph Shekarchi, the House Majority Leader, is the chief sponsor of legislation that would allow small businesses in Rhode Island to reduce their federal tax liability. / Courtesy Rhode Island General Assembly

A Warwick accountant, conducting research for a client’s business tax return, found a new Connecticut law that helps business taxpayers avoid a personal $10,000 limit for state and local tax deductions. For many Rhode Islanders, that $10,000 ceiling created by the 2017 federal tax overhaul is going to be a low threshold, because it includes

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