Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of federal tax you will pay. Since most of the changes will go into effect next year, there's still a narrow window of time before year-end to soften or avoid the impact of crackdowns and to best position yourself for the tax breaks that may be heading your way. Here's a quick rundown of last-minute moves you should think about making.
Last month, the European Union Community made headlines with their release of a diplomatic document that, for the first time, defines cyber-terrorism by a foreign power as an act of war. The EU document is expected to say that member states may respond to online espionage or cyber-attacks against their infrastructure or political processes with conventional weaponry in “the gravest of circumstances.”
Now is the time to focus on year-end tax planning. Careful and strategic planning can help minimize your tax bill and maximize what you keep. Given the uncertainty and sweeping scope of proposed tax law changes, planning is both more complex and more important than ever this year. Below, we discuss five year-end tax planning strategies you can use to maximize how much of your own money you keep.
Socially Responsible Investing (SRI) is just what it sounds like – putting your money where your mouth is. If you are concerned about environmental issues, healthcare, debilitating diseases, labor abuses or even buying domestically manufactured products, SRI identifies companies that align with an investor’s values.