Year-end of 2017 presents a unique set of challenges for taxpayers in the DC metro area. At the top of the list are the uncertainties created by the possibilities within proposed tax reform legislation – what changes might be made, and whether those changes would be retroactive for 2017. Also presenting a unique challenge before year-end is the Trump Administration’s initiative to “streamline” rules and regulations coming out of the Treasury and IRS. Meanwhile, the usual flood of court decisions and IRS guidance has continued, also presenting new opportunities –and pitfalls–that require year-end action.
Equally important to 2017 year-end tax planning is a look at what has changed in the life of the specific taxpayer under consideration. Recent and anticipated changes in a taxpayer’s personal, investment and business situations often require some year-end reaction, either to capitalize on targeted tax rules or mitigate against their application.
Download a 2017 Year End Tax Planning Report Here.