Year-End Planning and Trump’s Tax Plan: What You Need to Know

There’s always some concern during transition years that tax planning could be going through some major changes in the near future, prompting many to evaluate their current plans. That’s certainly true this year as experts begin to speculate the real tax plan proposals of a President Trump.

Although we’ll have to wait until January and beyond to see what changes are actually pushed through, there are four key components to his current plan worthy of considering as you approach your year-end planning:

No matter what changes do happen, it will be intelligent to have a relationship with an experienced tax and estate planning firm already established. These changes are certainly not unexpected, but it could rock the current planning opportunities and present the chance to overhaul your individual and business plans. Keeping your eye on the news and putting in a call to your estate planning lawyer for an annual review could be well worth it so that you remain poised to adapt to changes as necessary.