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.
Good look at the big money in politics through Super Pacs: ow.ly/o0yJ30lrXbz Who are the big 2018 donors so far? ow.ly/9PiZ30lrXdi Progressive platform moves into the mainstream of Democrat party: ow.ly/sSEL30lrXfJ
How could the growing tension with Turkey impact the US? ow.ly/UzQS30lqOr7 Much has been written re the US sanctions on Iran and how they will impact the EU. But what about other countries, say Iraq? ow.ly/REc330lqOwV
Here is a rundown of yesterday's ballot winners and losers: ow.ly/llA230lpSl1 ow.ly/sxgs30lpSlU GOP mid-term strategy becomes clear. Show the country that the GOP Congress is governing effectively and can be trusted with the majority. ow.ly/IhwZ30lpSpd
Even with federal deficits growing, defense funding increases significantly. This is on top of the $500B increase in federal spending signed into law back in March. Both parties complicit in driving this deficit issue. ow.ly/wBJu30lp2FW
No single theme today. States pushing back on POTUS's expansion of short-term medical plans: ow.ly/mJQJ30loa9V Additional clarity around 20% pass-through deduction eligibility: ow.ly/8HIJ30loabN Hack-a-thon using real US voting machines: ow.ly/XbQD30loadI