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Which means that many taxpayers right now are rushing to make sure they take advantage of any deductions they have today but will lose next week. To take us through how it all will work, we welcome now laura davison. Welcome back to the program. On the individual side, there are reports, and i must say, im in new York Resident and im looking at it how you can pay some of your taxes next year because you lose the deduction next year. Laura what the new law does is that it limits the state local taxes that you can do. To 10,000. If you live in an expensive state like new york where you have a property tax bill and your state income tax bill could exceed 20,000 or 30,000, if you prepay those now in states that are allowing you to do that, you can get that full deduction and tax break. Thats why you saw Governor Cuomo say you can prepay that. Take a bigger deduction. This is really democrats that are leading some of these states and kind of sticking it to congressional republicans, saying

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