The Tax Cuts and Jobs Act was signed into law on December 22, 2017. This law means significant changes for both individuals and businesses. While all changes are not listed below, it does include a good summary of the legislation that could impact you or your business. Most changes will take effect for 2018 – those with an effective date other than 2018 have been noted:
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A question we are sometimes asked is, "What impact did The American Taxpayer Relief Act of 2012 have on estate and gift tax rules?" It's a good question. Let's talk about it.