Last Minute Year-end Moves in Light of Tax Cuts and Jobs Act

Tax Reform 2017

Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of federal tax you will pay. Since most of the changes will go into effect next year, there’s still a narrow window of time before year-end to soften or avoid the impact of crackdowns and to best position yourself for the tax breaks that may be heading your way. Here’s a quick rundown of last-minute moves you should think about making.

Lower Tax Rates Coming
Disappearing or Reduced Deductions, Larger Standard Deduction
Other Year-end Strategies

Please keep in mind that we’ve described only some of the year-end moves that should be considered in light of the new tax law. If you would like more details about any aspect of how the new law may affect you, please do not hesitate to call us toll-free at (888) 388-1040 or schedule an appointment with your tax professional.

Article last updated: 12-20-17

In accordance with IRS Circular 230, this e-newsletter is issued to provide you with information about the Tax Cuts and Jobs Act and minimizing your taxes. Do not apply this general information to your specific situation without additional details. Be aware that the tax laws contain varying effective dates and numerous limitations and exceptions that cannot be summarized easily. For details and guidance in applying the tax rules to your individual circumstances, please contact your tax professional.