Helping you understanding the upcoming changes and better prepare your financial plan and retirement.  Here are a few items from the Tax Plan being put forth by the Republicans. Here is the full copy:  Tax Cuts and Job Act 11.2.17  If you have any questions about financial planning or portfolio management, please contact me for a free review of your plan and portfolio.

A few tidbits:

  1. Mortgage interest deduction in half.
  2. Tax brackets from seven to 4 brackets (12%, 25%, 35% & 39.6%)
  3. Child Tax credit to rise to $1,600 from $1,000
  4. State & Local property tax deductions up to $10,000
  5. Corporate tax rate at 20%
  6. Double exemption on estates


For an overview go to this page:

I have also attached the full document of the Tax Cuts and Jobs Act.