By Kortney Christensen, CFP®, Executive Vice President, Director of Sales and MarketingPrint This Post
The passage of the Tax Cuts and Jobs Act has presented us with one of the biggest tax rules in recent memory. At over 1,000 pages, it will take everyone a while to sort through the changes, much less develop strategies to take advantage of any opportunities. While the scope of the rule can be overwhelming, there are many aspects that present the potential for tax relief for individual filers. Major changes have been made to standard and itemized deductions, education savings and estate taxes. Other significant shifts have impacted the alternative minimum tax, tax brackets and retirement savings vehicles. Most of these changes will sunset in 2025. Join us over the next few weeks as we examine various aspects of the rule, one topic at a time, to understand how some of the major provisions might impact you.
Benjamin F. Edwards & Co. does not provide tax advice, therefore it is also important to consult with your tax professional for additional guidance tailored to your specific situation.