Year-end Planning Opportunities
Tuesday, December 26, 2017
Recently, congress passed the biggest overhaul of the tax code since 1986. As far as year-end planning, here are a few reminders on planning opportunities: Ordinary Income – in situations where you have flexibility to control the timing between 2017 and 2018, in most cases recognizing this next year will allow you to benefit from lower marginal tax rates. State and Local Income Taxes – given the cap being implemented on state and local taxes as a deduction beginning in 2018, you would benefit from the prepayment of any state and local taxes by December 31, 2017. Charity – For…