As 2017 drew to a close, Congress passed the Tax Cuts and Jobs Act, tax reform legislation that made sweeping changes to the Internal Revenue Code. When Congress last reformed the tax code in 1986, the legislative process took over two years. This time Congress accomplished the same feat in two months. This white paper discusses the portions of the Tax Cuts and Jobs Act that are of particular importance to business owners, investors, and financial advisors. We point out situations that are likely to fare better and those likely to fare worse under the legislation. At the end, we present a chart of “winners and losers” that takes into account these individual situations. The chart also shows business and economic sectors particularly likely to be affected by these tax changes, thereby potentially altering their equity valuations.
Winners & losers in the border wall deal: http://ow. ow.ly/8zHV30nIgGW ly/ONiP30nIgh7 So where might POTUS find money to build the wall under the national emergency declaration? ow.ly/hFyX30nIgog What will the Dems next move be?
Why A Wealth Tax Has No Chance: Speaking at the Investment & Wealth Institute's annual Investment Advisor conference, Andy Friedman discusses the future direction of tax rates and why it would be difficult to implement an annual tax on wealth. ow.ly/yUkt30nGVkg
Medicare for all update: ow.ly/e1Zp30nFZrV It's often said that politics is a money game. So what do we hear from big Dem donors,"Just looking, thank you.": ow.ly/6Kgu30nFZw2 Biden, assuming he runs, may find softer support than expected: ow.ly/wfuq30nFZzh
Tax refund update: Interesting data from the US Treasury. Year over year refunds are only down 8.4%. Again, this is primarily a withholding issue. Understand, this is a very small sample size. We'll know more in late April & much more in late September. ow.ly/Wxaz30nF3S8
Many outraged their tax refunds are lower or they actually owe taxes for the first time! This was predicted by us and others. Also, high income W-2 earners, in high tax states who own pricey personal real estate will pay more in taxes under new code. ow.ly/SLMe30nESjK