Making the New Tax Law Work for You
Americans already have seen some benefits, in the form of smaller payroll withholdings, from the new tax law signed last December. But for the most part, the impact of the most sweeping overhaul of the U.S. tax code in more than 30 years won’t be felt until the 2019 filing season.
Thad Lincoln and Verlin Boes of Overland Park’s Retirement Concepts Group provide an overview of the changes and examine how taxpayers can maximize future returns. They focus on modifications to the tax rate, the higher standard deduction and how it could affect decisions on itemizing, the more generous child tax credit, estate and gift taxes, and qualified gifts to nonprofits from an IRA.
Lincoln is president of the Retirement Concepts Group. Boes is a tax advisor.