On December 22, 2017, President Trump signed into law the most important rewrite of the US tax code in decades. The federal law, which is entitled “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution of the budget for the fiscal year 2018” (the Act), has no other name, as its short title, the Tax Cuts and Jobs Act, was stricken from the bill shortly before being signed.
We have prepared a summary of the Act as a non-exhaustive discussion of key changes to the tax code. We will continue to analyze the Act and will post updates and recommend planning strategies on this blog.
For more information regarding the Act, please see our previous related blog posts linked below:
- Planning to Live Beyond 2025? How You Can Still Enjoy Estate Tax Reform’s Sunset Special
- Rethinking Large 2017 Year-End Charitable Gifts
- 2017 Year-End Planning for Art, Equipment, and Other Non-Real Estate 1031 Exchanges
- Should You Reform Your Business for Tax Reform?
- What’s in the Tax Reform Bill?
On behalf of everyone at Williams Parker, we hope you and your family have a healthy and happy 2018.
Please note this post was co-authored by Elizabeth Diaz, Colton Castro, and Nicholas Gard.
Nicholas A. Gard