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The Tax Reform & Tax Rate Changes You Should Know

The Tax Reform & Tax Rate Changes You Should Know

On December 20, the House approved H.R. 1, the “Tax Cuts and Jobs Act,” the sweeping tax reform measure, by a vote of 224 to 201. The Senate had passed the measure, as revised to address some procedural complications, the night before, and the bill was signed into law by President Trump on December 22, 2017.

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2018 Tax Reform Outlook

2018 Tax Reform Outlook

The Republicans are coming off a win with the historic year end passage of their Tax Cuts and Jobs Act. However, there won’t be much time for them to rest on their laurels as there is a lot that Congress needs/wants to get done before the inevitable slow-down that will occur as early as late spring in advance of the 2018 mid-term elections.

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How To Prepare And Minimize Your Taxes Now

2017 Is Almost Over

From CNN:

With little less than four weeks — and just 12 scheduled legislative days left — and the 2018 midterm elections looming, Republicans must not only pass their contentious tax overhaul and avert a government shutdown, but also reauthorize other federal programs that are fraught with politics.

Here at Palma Financial Services, Inc., we pay attention to this stuff so you don’t have to. And when (if) something gets actually passed, we’ll be right here to help you weed through what it might mean for you, your family, and your taxes.

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