The Republican Tax Bill was signed by President Trump on December 22nd 2017 and has been enacted into law. What does this newly enacted tax bill mean for you?
I have provided a link to the summary of changes to the tax laws by Tax Foundation. I have not read the entire bill, which I have provided a link to below, but based on my observations, my thoughts of the bill are:
Overall, I think we shall wait and see how the changes will be implemented in practice and we should see the majority of changes take effect next tax season for 2018 tax year.
Shamim S. Akhavan, Esq.
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