The if or when the tax reform passes chatter has come to a close. Trump has signed the tax bill into law.
The short explanation – virtually every taxpayer will be affected by this legislation.
The long winded explanation – there are a number of rate reduction provisions, numerous credits or deductions that are reduced or eliminated, and a number of significant new tax planning opportunities. How multinational companies are taxed will change dramatically, and there are several new provisions for nonprofit organizations.
Needless to say big tax changes are coming down the line in 2018 and there are opportunities and strategies to consider now to make sure you’re taking advantage of certain tax breaks that may be changing or disappearing.
SC&H Group’s tax team is hosting a webinar January 15th to explain what this tax overhaul means for you as an individual and your business. Join us to learn more about tactics you need to consider as you map out your 2018 tax planning strategy.