I’ll be the first to admit tax planning is not where I spend the majority of my time; I know enough to be dangerous, well, maybe a little more than that, but I am not a tax professional. I don’t do my personal and business taxes, and when it comes to my clients’ taxes, I always refer them to their CPA. I wish I could write a succinct summary of the White House’s tax plan that was released yesterday as President Trump visited my hometown, but that’s outside my realm of expertise. Instead, I’ve compiled a list of blog posts and articles to do the explaining for me. I’ve tried to keep the political commentary to a minimum in the selected writings, but it’s difficult to successfully pick nonpartisan writings when it comes to taxes and this administration.
I’ve tried to keep the political commentary to a minimum in the selected writings, but it’s difficult to find nonpartisan writings when it comes to taxes and this administration.
If you’re interested in learning more about the proposed tax plan, and how it might impact your personal financial planning, check out the links below. Don’t get too worked up yet–this is only the proposal, so who knows what might get passed. If you have any questions regarding the potential impact on your personal situation, give your accountant a call.
Here’s a good start, and I’ll add to the list as more write-ups surface (I’m looking at you Bill Sweet (@billsweet)): Updated 9/28/17 5:35 PM
The Washington Post: The GOP Tax Plan, Explained in the Simplest Terms (Ok, to no surprise, the political slant in this one is obvious, but if you can ignore it, there is a good explanation of what is being proposed. However, if you are politically sensitive–skip this one).
Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.