Tax Planning

President Trump signed the "Tax Cuts and Jobs Act" into law on Dec. 22, as noted and summerized from a report by Investopedia. The Senate passed the bill on Dec. 20 by a party-line vote of 51 to 48.

Here are links to the new tax bill, just signed into law. Many of the new rules are effective in 2018.

for individuals

https://www.thetaxadviser.com/news/2017/dec/tax-reform-bill-changes-for-...

Be sure to review my two recent "tax planning" articles & the "2017 Tax Planning Guide" provided, when we met earlier this year. Also, please let me know if you have tax questions before 12-31-17. Have a great year-end & Holiday season! Garland

On September 27, 2017, the Trump Administration and select Republican members of Congress released a “unified framework” for tax reform.

Things you may wish to do by 12-31-17

(most assume/require that you can itemize deductions)

(a few may have no effect, if you are subject to AMT)

* Please review my 1st 2017 Year-End Tax Planning email sent 10-1-17. It's on my website too!

Trump administration officials and congressional Republican leaders are negotiating the terms of a tax reform bill.

Although the official tax filing date has passed us by, the subject matter of this blog is still relevant because many taxpayers have filed extensions and have a number of months before the extended filing date is final.

“And they’re off!” If you’ve ever been to a horse race, the phrase should sound familiar. Those words apply now: the rush to file a complete and accurate tax return on time has begun.

Since 2015, when the Fixing American’s Surface Transportation Act was passed by Congress, world travelers who owe the IRS money have found that it’s no fun to owe a tax debt. In fact, it can ground any and all international travel plans indefinitely.