This legislation is heading toward likely passage, and individuals can still take advantage of several tax planning opportunities in the short window between now and the end of the year. Declining tax rates and an increase in the standard deduction mean many individuals may want to make tax payments and take charitable and other deductions before the end of the year.
The Tax Cuts & Jobs Act legislation will bring some big changes in planning techniques for individual tax and impact several areas, from bonus payments from your employer and distributions from retirement accounts to deductions for charitable contributions and mortgage interest.
There isn't much time before year-end. Listen to two of our national tax experts, Kurt Piwko and Stephen Eckert, talk about the changes and the steps you can take.