Everyone will be impacted by this major GOP Tax Bill, and it’s important to take action now before year-end to protect your bottom line. ~ CPA and CEO Tom Wheelwright
TEMPE, Ariz. (PRWEB)
December 20, 2017
With the Tax Cuts and Jobs Act likely to pass this week, CPA, CEO and Tax-Free Wealth Author Tom Wheelwright announces his 2017 Top 10 Year-End Tax Tips. With only 10 days left in the year, Wheelwright urges everyone (employees, business owners and investors) to review their finances and take action by December 31, 2017, to keep more money by reducing taxes, legally.
With this $1.5 trillion GOP Tax Bill pending approval, and the biggest tax code change in 31 years, 2017 is especially important for year-end planning to protect assets. With many tax benefits going away in 2018, there are ways to maximize these benefits in 2018, such as paying any state taxes due for 2017 before the end of the year.
Wheelwright emphasizes, “Everyone will be impacted by this major GOP Tax Bill, and it’s important to take action now to protect your bottom line. While the new tax plan is being sold as a tax cut, there are tax increases for some people. The more you get educated and take recommended steps by December 31, the more money you can keep.”
After actually reading the nearly 1,100-page tax bill (and most House and Senate members casting votes have not read it), CPA Tom Wheelwright offers this advice to everyone wondering what actions to take before year-end 2017 to reduce taxes in 2018.
2017 Top 10 Year-End Tax Tips from CPA/CEO Tom Wheelwright
1. Prepay your 2017 state income taxes by year-end (this deduction will be limited in 2018).
2. Accelerate any of your children’s unearned income into 2017 (rates go…