At 1097 pages, the new tax act is the most far-reaching and complex tax code passed by Congress since 1986. This article looks at ramifications in the areas of deductions, divorce, and estate plans.
The Tax Cuts and Jobs Act (TCJA) is old enough now that you’ve probably had an opportunity to review many of its highlights and consider how the changes may impact your family. It’s the most far-reaching and complex federal tax code passed by Congress since 1986, but whether its impact will be negative or positive for you depends completely on the particulars of each situation. Let’s review three potential issues with the act and some viable solutions.