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A Simple Summary of Tax Changes

News Personal Finance

As you may be aware, at the end of 2017, a new 1000+ page tax bill was passed. Tax experts are still working to clarify details, so we favor a measured and well-researched approach to these changes, rather than a reactive, rushed one. We wanted to share a helpful table from CST Group that will help you to understand what has changed and what will stay the same.

View the Summary

 As a reminder, we look at tax reform without political bias – purely analyzing the effect on broad markets, interest rates, the economy, your portfolio and your income. A few highlights:

  • Corporate rates were cut from 35% to 21%.  This is favorable for continued corporate strength, so markets responded well. 
  • A one-time tax break (reducing rate to 15.5%) on cash repatriated from foreign subsidiaries could also be good for corporations’ 2018 earnings.   
  • On the market side, we are spending a great deal of time researching the ramifications and potential tax saving opportunities that we may be able to take advantage of.
  • The bill is the largest set of changes to tax regulation in over a decade. We encourage you to work with your CPA to determine its impact on you. The changes may affect your deductions, education saving, business income, estate planning, and tax filing for your unique situation. 

We will certainly look for opportunities within your portfolio, and we encourage you to consider that a tax cut permits more pay to come to you. Why not use that additional cash flow to save for your goals in 2018?

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Halpern Financial, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Halpern Financial, Inc.. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Halpern Financial, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Halpern Financial, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.



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