More Tax Legislation!

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As if we didn’t have enough change over the last few years, it appears that we will imminently have yet more legislation that will make changes to our tax laws. As of this writing, Congress has passed budget legislation that has tax provisions wrapped into it, and the President is expected to sign.

Key provisions include:

  • “Tax Extenders” - these are the various credit and deduction preferences that are perennially renewed by Congress

  • The “SECURE” act, which makes many changes to IRAs and 401(k) plans

  • Disaster relief for federally declared disaster areas in 2018 and 2019

  • Repeal of certain “Obamacare” taxes on high cost insurance and medical devices

Click this link for a good summary of the changes that this legislation makes.

Please contact us if you have any questions on how this may apply to you.