New Tax Law – New Opportunities

Unlike many tax law changes from year to year, this year’s new tax law has multitude of significant changes.  Some of the changes are intertwined – and some of the changes are offset by other changes such as:

While the new tax law will benefit most taxpayers, it is important to keep in mind that every tax situation is unique and the final result is affected by family size, income level, type of income, total amount of income, the type of deductions, and total deductions.  The results can also vary year to year.  There are planning opportunities for all, particularly for those who are self-employed or have a side business.

What follows is an overview of some of the significant changes:

Personal Tax Returns:

Small Business:

Estate Tax:

Other Articles by Category: Business Tax, Estate Planning, Estate Taxes, Personal Tax, Tax, Tax Preparation

The content in this document is provided for informational purposes only, and should not be construed as legal advice or an offer to perform services on this subject matter. Contact Visci & Associates to schedule a consultation at our offices in New York and New Jersey.