Sweeping Tax Changes

This morning, President Trump signed into law the most sweeping set of tax law changes in over 30 years.  It’s going to take some time to digest it all, but there are a few things we do know.  We are getting lots of questions on what can be done this year, and candidly, there aren’t many.  Even the few things that can be done, for many it may not be viable, and in every case, we encourage you to contact us directly, as well as your tax professional.  I have seen over a dozen scenarios just today, where a client wanted to do something they were told would be a good idea –  from a “professional” that didn’t know them – that simply would have been a bad move for the individual.  Beware the opportunists!  We are here to answer questions as well and can help you figure out if that marketed strategy is going to be possible.  One of our trading partners (Fidelity) has provided what I think is one of the better quick and easy guides to the big picture stuff.  I’ve copied it here.  We have more detailed breakdowns that will continue to be added to as things become clearer and will be discussing with all of our clients during 1st quarter reviews.  Enjoy the read as well as the spirit of the Holidays with your families!


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