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Articles From Lumsden McCormick

2018 Year-End Tax Planning for Individuals

On December 22, 2017, President Trump signed sweeping federal tax reform into law. Tax reform has significantly changed the U.S. tax system for both individuals and businesses. Our eBook covers some of the most impactful measures from tax reform affecting individuals including:

  • The suspension of most itemized deductions
     
  • The near-doubling of the standard deduction
     
  • The $10,000 cap on the state and local income and property tax deduction
     
  • The suspension of personal exemptions
     
  • The Section 199A deduction for pass-through business owners
     
  • The increase of alternative minimum tax (AMT) exemptions for individuals
     
  • The new individual income tax rates and brackets

Download our eBook: 2018 Year-End Tax Planning for Individuals.

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