A majority of the provisions from the massive Tax Cuts and Jobs Act (TCJA) went into effect last year. These provisions included a substantial reduction for corporations as well as small income tax rate reductions for many individual tax brackets. The TCJA  provided a large tax deduction for owners of pass-through entities, made a significant increase in exemptions for the individual alternative minimum tax (AMT) and the estate tax, and expanded the availability of child credits to more higher-income taxpayers.

Although there were many things that came as good news for taxpayers, there were a few disappointments. The TCJA eliminated or limited many tax breaks, and much of the tax relief provided is only temporary unless Congress acts to make it permanent.

Tax planning is as essential as ever.

This guide provides an overview of the most consequential changes under the TCJA and other key tax provisions you need to know. It offers strategies for minimizing your taxes in the current tax environment. Use it to work closely with your tax advisor to identify the best strategies for your particular situation. Our LBMC team of experts can keep you apprised of any new tax law developments that occur this year that might affect you.

Tax Guide Contents:

  • Year-to-Date Review
  • Executive Compensation
  • Investing
  • Real Estate
  • Business Ownership
  • Charitable Giving
  • Family and Education
  • Retirement
  • Estate Planning
  • Tax Rates