Three Key Tax Items from the New Tax Laws – So Far

Recently, in a study group of six long time Professional Financial Planners – including yours truly – someone in the group asked if they had their arms around the new tax code?

None of us were 100%- too many changes and too many possible changes-

That being said, here are three key observations

Three Key Tax Changesirs

  1. The new $12k standard ($24k for couples) will render many itemizers useless and will mandating clumping
  2. Tax Rates are going down- across the board – see our chart here
  3. Largely a loss of deductions – Especially small business owners

The last bullet point may give you pause, but it should not, the net effect (most likely) will be positive for most tax payers —

Have a Great “Less Taxing” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

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