Midyear tax planning more important than ever
Summertime usually makes us think of vacations, backyard barbecues, and general relaxation. Tax planning may not be on the top of your summertime to do list, but this year you may want to consider making time for it.
Major tax reform is being considered in Washington for the first time in thirty years. Current proposals include changes to the tax bracket structure, personal deductions, exemptions, and childcare credits.
Potential changes could create pitfalls or opportunities that can make a difference in the taxes you pay. You can't control what happens in Washington, but you can prepare for what's ahead by considering moves that could minimize your tax bill for 2017.