New Administration - Possible Tax Changes to Come

The election of a new president along with Republican control of the House and Senate will likely bring changes to tax laws for individuals and businesses. At this point we do not know what will and will not happen but we want to make you aware of some of the possibilities.    

Individuals:


Estate Tax:


Businesses:

Individuals may want to consult their tax professional regarding income and deduction options that are appropriate to their specific tax circumstance.

For businesses, the restriction on deductions may prompt accelerating deductions into 2016. We need to wait and see where the rates come out for C corporations and pass-through entities.  It seems certain that tax changes will be coming, but the specifics and timing have yet to be determined.  

We hope you enjoy this issue.  As always, we welcome your comments.  Email info@rodmancpa.com with your feedback.


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