As many of you are aware, we had sweeping Federal tax law changes for the first time in 30 years that will have both positive and negative effects on many of you. Please note that these changes are not uncommon and usually do happen every 30 years, with the last two coming in 1981 under President Reagan and before that, in 1945 under President Truman.
In this article we will discuss, as Clint Eastwood would say, “The good, the bad, and the ugly” of the bill and how it may affect you. Please note that this article is not meant to be a comprehensive guide to every caveat of the law, but it does cover the high points and makes it obvious how important good financial and tax planning will be (as it was in the past and will continue to be in the future)! First though, let’s talk about some of the things that did not change:
UNCHANGED
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