2017 Year-End Tax Information
Year-end tax planning for individuals and businesses provides the opportunity to not only make strategic tax decisions that can improve your current tax situation, but also the chance to consider new tax developments and their effects on future years. The Scott and Company team would like you to take a look at this informative report discussing year-end tax planning.
Tax Reform, IRS, Court Decisions, and More Add to Uncertainties at Year-End
Year-end 2017 presents a unique set of challenges for taxpayers. At the top of the list is the uncertainty created by proposed tax reform legislation – what changes might be made, and whether those changes would be retroactive for 2017.
Also presenting a unique challenge before year-end is the Trump Administration’s initiative to “streamline” rules and regulations coming out of the Treasury and IRS. Meanwhile, the usual flood of court decisions and IRS guidance has continued, also presenting new opportunities –and pitfalls–that require year-end action.
Traditional considerations. Equally important to 2017 year-end tax planning is a look at what has changed in both your personal and business situations. Recent and anticipated changes often require some year-end reaction, either to capitalize on targeted tax rules or mitigate any negative impact.
Note: This document was prepared before any tax reform legislation was passed, therefore this is not the final version of what is to come. Please contact your Scott and Company Advisor to discuss year-end tax planning strategies before making any year-end transactions or planning moves.
To view the full Year-end Tax Planning special report CLICK HERE.