what will change under trumps new tax plan

How the new tax bill will effect our clients: Victory…..or not?

  The Senate passed the much anticipated tax overhaul bill this morning. If enacted into law, sweeping changes to both individuals and businesses are on the horizon. In reviewing aspects of the legislation, here are some quick, off the cuff observations: Repeal of the state and local income tax deduction, (SALT):   For our clients …

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A key limitation under Trump’s new tax plan

A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer (and in some cases permanently reduce) your taxes. But there are exceptions. One is if the additional deductions this year trigger the alternative minimum tax (AMT).  Complicating matters for 2017 is the fact that tax legislation might …

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