Top five TCJA tax planning opportunities for individuals in 2018​

As we enter into the tax planning stage of the year, the focus shifts to helping clients understand the impact of the Tax Cuts and Jobs Act and optimize their tax positions. That is no small task, given that there are over 130 new tax provisions.

Here are the top five TCJA tax planning opportunities for individuals in 2018:

No. 5 — Itemized deductions versus the standard deduction

No. 4 — Revisit your qualified tuition plans

No. 3 — Watch out for home equity debt interest 

No. 2 — Bunch charitable contributions

No. 1 — Maximize the qualified business income deduction

 

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Breunig CPA, LLC