You probably noticed that a major tax overhaul recently passed. Here are a few actions I would recommend taking before the end of 2017:
- Pay property taxes on principal residence
- Pay January student loan and/or mortgage payments early (if the bank will allow it)
- Make charitable contributions and be sure any non-cash contributions are dropped off before 12/31/2017
- Pay for any employee business expenses, including union dues, supplies, etc.
- Complete any planned vehicle (car/boat/RV) purchase
The 2017 tax return will generally follow the old rules; the 2018 returns will be subject to the new tax laws. As I learn more about the new laws, I will provide additional direction on any other actions to take in the new year.
Wuz
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