The Internal Revenue Service recently announced the annual inflation adjustments for a number of tax provisions for 2019. These went into effect January 1, 2019 and are not intended to be used for 2018 tax returns. We fully recognize that most of our clients are currently preparing their 2018 taxes and we encourage you to revisit some of the major changes associated with the 2017 Tax Cuts and Jobs Act that will impact 2018 tax planning.
The Tax Cuts and Jobs Act enacted on December 22, may significantly change tax planning for many of our clients. As in past years, we are providing you with a link to the College of Financial Planning’s® Guide to Annual Limits, which is a reference for 2018 for a variety of tax and other wealth planning figures.