Year end strategizing for the potential tax reform

While the GOP has apparently tightened up on deductions from folks accelerating state and local tax payments, that was always going to be a somewhat limited option.

The big takeaway is this – you need to understand the structure of your current deductions — and whether you are in AMT now — and whether you will be itemizing or not next year.

And the best remaining option may be accelerating charitable giving if (a) you have plans to give in the future anyway; and (b) you have the means to do it now, especially, as we often recommend, doing so via donations of appreciated assets, especially stock.

We strongly encourage a conversation with your financial and/or tax advisor as soon as possible!

https://www.bloomberg.com/news/articles/2017-12-16/how-you-can-exploit-the-tax-bill-right-now

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: