To help steer your tax planning strategies under the current Trump Administration, this online guide provides an overview of key tax provisions you need to be aware of amidst the possibility of dramatic changes in tax law. For example, you could see changes to your tax rates and breaks and the elimination of certain taxes. Additionally, corporate tax reform could affect not only C corporations but other entity types as well. This would likely mean lower rates, but fewer deductions and credits.
As you head into your 2017 tax planning, closely follow current tax law so you can respond quickly to any changes that arise. This guide covers:
- Income and deductions
- Family and education
- Estate planning
- Tax rates
It's critical that you stay aware of legislation that could be signed into law later this year as many provisions could go into effect in 2018 or later. There could be major incentives to defer income to 2018 and accelerate deductions into 2017. Stick closely to your Friedman tax advisor for information on the latest tax law developments to learn how they might impact your 2017 tax strategies.
To read the full guide, click here.