Planning for Proposed Tax Changes

Taxes

Planning for Proposed Tax Changes

The new administration has proposed reform that may potentially impact individual income taxes, transfer taxes, and business income taxes.

February 24, 2017

The Trump administration ushers in change, potentially in personal and business tax planning, and it's likely your tax rates may change in the next year or two. While President Trump's and congressional Republicans' proposed tax plans are similar, agreeing on lower rates and a broader taxable income base, they disagree on significant points and some important details have yet to be clarified. Some of these differences will spur intense debate as an agreement is worked out.

The full Planning for Proposed Tax Changes document, linked below, provides insight into the areas of federal tax law that are subject to possible reform. It provides brief explanations of current tax law and recaps of tax reform proposals from the new administration and House Republicans, as well as insight from Raymond James thought leaders. Talking to your advisor about these potential changes and consulting with your tax and legal professionals can help you navigate the coming tax reform with confidence.

 

 



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