With the potential major changes to our tax laws in 2018, there are a few things that you can do now to help protect your future, but you have to act now! This article from the New York Times is very well written and informative. We suggest that you take the time to read this article to find the recommendations that may have a direct impact on your finances – for example:
- Pay your property taxes early
- Prepay your state taxes
- Make large charitable donations
- Harvest your losses
High-earning taxpayers cannot afford to wait and see what happens with the tax overhaul; they need to act this month before certain opportunities go away. Read the full article, give us a call with questions, or consult with a tax professional to see if any of these recommendations are appropriate for your circumstances.