What Tax Reform Means For You and Your Business
The Tax Cuts and Jobs Act of 2017 is the most sweeping overhaul of the US tax code since 1986. While its creators insist that it’s going to make filing easier for many Americans; the bill itself is hugely complicated, changes what benefits you may be eligible and has led to some surprising outcomes.
To help you navigate the new legislature as we gear up for tax season, Jeffrey Levine, CEO and Director of Financial Planning at Blueprint Wealth Alliance, and author of The Baby Boomer’s Guide to Savvy IRA Planning, joins me on the podcast after appearances on CNBC and CBS to talk about key takeaways and what you and your financial advisors need to watch out for.
In this podcast interview, you’ll learn:
- The goals of tax reform, the new tax brackets and why you need to look at the tax bill in full to truly understand how it will affect your taxes.
- A number of different ways that high earners may be able to save money under the new tax code—as well as what deductions have changed or are no longer available.
- Child Tax Credit increases
- Why the Health Savings Account can be the very best long-term investment available to you
- Roth IRA changes
- How the Pass-Through Deduction will work for small businesses
If you enjoyed this podcast and have more questions for Jeff about the tax code, click here to ask us your tax questions
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