After all the last-minute politicking and outcry over the Tax Cuts and Jobs Act, the tax overhaul bill signed into law by President Donald Trump last month, it quietly went into effect earlier this week. There still are many American asking what the tax changes will mean to them. On Wednesday’s Smart Talk, we look at a few of them.
The initial iterations of the law had many in the home buying and building industry concerned that the elimination of property tax and local and state deductions could hamper home sales. The final wording of the bill offered some relief for both builders and buyers. On Wednesday’s Smart Talk, we discuss the impact the tax overhaul could have on regional home sales with Todd Umbenhauer, president of the Pennsylvania Association of Realtors. We’ll also speak with Sherry Labs, president of the Pennsylvania Tax Collectors Association to clarify the rules regarding pre-payment of 2018 property taxes to deduct from 2017 taxes; what the federal, state and local laws are for people looking to squeeze one more deduction into April’s filings.
The prison riot at New York state’s Attica prison in 1971 is considered one of the nation’s worst. Thirty-nine men, including eight hostages, were killed when state police stormed the prison to retake it from inmates. It’s taken 46 years but Heather Ann Thompson has written the definitive account of what happened at Attica in her book Blood in the Water.