Although you can’t avoid taxes, you can take steps to minimize them. This requires proactive tax planning — estimating your tax liability, looking for ways to reduce it and taking timely action. In 2018, however, tax planning is more complicated than usual. Most provisions of the massive Tax Cuts and Jobs Act (TCJA) go into effect this year, and as a result you likely will need to change at least some of your tax planning strategies.

To help you identify strategies that might work for you in 2018, we’re pleased to present this tax planning guide. It features many “What’s new!” sidebars summarizing some of the most significant TCJA changes and their potential impact on tax planning. And it highlights other important tax law changes throughout. It also shows how various strategies apply to different situations, and presents charts, rate schedules and case studies to help you understand the specifics of tax planning. We invite you to look through it and note the sections or strategies that apply to your situation. Then let us know if you have any questions about what it covers.

Familiarizing yourself with the ins and outs of the TCJA and determining which steps to take isn’t easy. That’s why it’s important to work with an advisor who understands the complexities of the new law and is well versed in the full range of actions you can take to save tax. We can provide the advice you need, based on our deep knowledge of tax law, including the TCJA, and our years of experience in helping clients like you minimize taxes.

We would welcome the opportunity to help you map out a tax plan that takes full advantage of all strategies available to you. Please contact us at your earliest convenience to discuss how we can help you develop a tax plan for 2018 and beyond. Most tax reduction strategies must be implemented by Dec. 31 — and some even earlier. So the sooner you call, the better.

We look forward to working with you to maximize your tax savings.

Click here to view the 2018-2019 Tax Planning Guide