CPA CLIENT BULLETIN SELECT Nov 2018

Smart tax, business and planning ideas from your Trusted Business AdvisorSM November 2018

 

Year-end planning under the new tax law

 

The Tax Cuts and Jobs Act of 2017 (TCJA),passed at the end of last year, generallytook effect in 2018. Therefore, the fourthquarter of this year provides the first real opportunity for year-end planning under what has been called the most important tax law passed in more than 30 years.

 

Broadly, the TCJA lowered income taxrates for individuals and for businesses.As you’ll read in this issue of the CPA Client Bulletin, the standard deduction has been substantially increased, but many deductions have been trimmed or eliminated, and some innovative tax benefits have been introduced.

 

Still, much of the tax code remains the same, and so does year-end planning. Retirement plans are largely unchanged. Business equipment purchases still qualify for favorable tax treatment, although the exclusion amount has doubled (a big tax break), and the federal estate tax is still combined with the gift tax. The articles in this issue will provide tips for blending new tax-saving opportunities with old, reliable strategies.

 

Read Full Article

Latest News

Affiliations

  • Slider 01
  • Extra 1
  • Slider 02
  • Extra 2
  • Slider 03
  • Slider 18
  • Slider 17
  • Slider 16
  • Slider 15
  • Slider 14
  • Slider 13
  • Slider 12
  • Slider 11
  • Slider 09
  • Slider 08
  • Slider 07
  • Slider 06
  • Slider 05
  • Slider 04
  • Slider 10