I have been doing tax work for almost 40 years. During that time I can think of over 12 significant tax bills that I could endorse, even in one case where tax rates were increased. This bill I cannot. I am happy that this bill will create more billable time for my firm but I believe the benefits are over blown. Our job is to save you money not cost you money and this bill was a gift to lawyers and accountants. The following analysis will hopefully provide some understanding of the more salient points for you but also I want you to keep in mind the complexity that this bill is going to cause. More than ever please call us before you make a decision or plan a course of action that may be irreversible. Secondly, as we gain more understanding we will look for the opportunities, read ambiguities, and lack of clarity, to take proactive stapes to minimize your taxes not just defer them.
Best wishes for the New Year, and I look forward to speaking with you soon.
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NEW LEGISLATION (SHORT LETTER)