Most of the new tax law does not go into effect until 2018, so you'll have plenty of time to study and plan for tax saving.
BUT, what about 2017? Some of the act's provisions create opportunities for you to cut taxes for THIS YEAR! In this video, Brett Hersh will reveal a few strategies that will help you use Tax Cut and Jobs Act to minimize your 2017 taxes. He will also discuss some common year-end strategies that will help you cut your largest expense for 2017: Taxes!!
He'll also share his number one, top secret, tax planning tip: Don't wait until the last minute to plan! I guess that wasn't such a secret after all.
There's still time to start saving on taxes!
As with any legislation, there's bound to be changes, clarifications, and amplifications. We'll post those here as they become available.
CORRECTION: It has come to light since filming our tax tips video that the tax act limits 2017 SALT deduction for prepayments of future years. To make sure any additional payments qualify for a 2017 deduction, make sure you are paying taxes for 2017 or a prior year. As of right now, we believe our 2017 estimated payment strategy for state and local taxes will qualify for a 2017 deduction, but - as always, please consult with a tax professional regarding your specific circumstances. Also, remember that any refunds for 2017 may be considered income for a future tax year.
All courses and articles are for informational purposes only and do not constitute tax advice. Taxes are complicated - do not act on course information without consulting a professional. Always refer to treasury regulation before making any tax decision. Read the full disclaimer.
I really appreciate you doing the class. It was quite helpful.- Debbie Y, Greensboro, NC, 1099-NEC & 1099-MISC Training Course Course
Jam packed with info. I feel ready to finalize the year and tackle my taxes!- Cassie, Biloxi, MS, Real Estate Agent Tax-Cut Library, Agent Edition Course
I took the course last weekend and it was excellent. I’ve also had a couple of e-mail exchanges with Brett to clarify a few things, which I really appreciated. I found the class to be very easy to understand. I do have a finance background, but I think it would be comprehensible to people who don’t. I will recommend that the next Treasurer of our HOA take the course when he/she takes over.- Nancy S, Glenview, IL, 1120-H Basics Course
The course was excruciatingly detailed, which I appreciate. I definitely recommend this course to anyone who even thinks they may need it.- Greg, Brookfield, IL, 1099-MISC Basics (Training Edition) Course
I haven’t practiced in the accounting field in quite some time and wanted a refresher. The Overnight Account course 1099-Misc Basics was very helpful! It was simple to follow along and understand each section. I would highly recommend this course! Staff were quick to answer my question as well. I love that I can review the modules again, if needed, at any time. I will definitely be using them again for more classes.- Tammy, Anchorage, AK, 1099-MISC Basics Course