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Top Tactics for Capitalizing on the TCJA

December 18, 2018

President Donald Trump pledged that his tax law would kill off breaks and complex loopholes for the wealthy. Instead, the overhaul has ushered in a new generation of maneuvers that taxpayers can exploit before Dec. 31 to minimize next year’s bills. Some tactics capitalize on provisions in the law that provide benefits, such as a generous break for owners of pass-through entities like partnerships and a higher exemption amount for the estate tax. Other strategies are aimed at sidestepping new limits in the law, including the cap on state and local tax deductions. Read more at Accounting Today.