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10 year-end tax-planning tips after tax reform

Source: taxprotoday.com - Dec 3, 2018

Last December’s tax-reform bill upends conventional tax-planning strategies and dramatically changes the landscape for this year’s tax filings. Here are 10 of the most important 2018 year-end tax-planning considerations for individual clients from Grant Thornton.

1 Double-check your withholding and estimated taxes.
The individual tax changes cut both ways. Your clients may be familiar with the major deductions they’re losing, but less familiar with the impact of some of the more favorable changes like the expanded tax brackets. It’s not easy or intuitive to figure out what it all means to your clients' bottom line.

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Category: General Business