By Ryan Fair, CPA, CFP®
The end of summer has officially arrived. And while no one wants to say goodbye to long days and relaxing getaways, the time has arrived to get back to school, back to work and, at least in my case, back to some serious tax planning.
By Bill Mock, CFP®, CRPC®
The Tax Cuts and Jobs Act (TCJA) has been making a lot of headlines since it was first announced last year. Some of the news is good, some not so good, and some of it is just plain confusing. Even today, in the dog days of summer, there is still a lot of guidance from the IRS that has yet to be issued. What does that mean for you as a taxpayer? First, perhaps more than ever, it means that tax planning should be a top priority to be sure you are optimizing the new tax laws to your advantage. Second, because of the new, higher standard deduction and other significant changes in the law—and the fact that those changes won’t last forever—it means that right now is the time to truly “make hay while the sun is shining”!