The new tax legislation is popping at the seams with new privileges and challenges. Are you a winner or a loser? It depends on who you are. The Tax Cuts Jobs Act line-by-line, provision-by-provision, imposes surprising results, both good and bad. Many of the areas change do so very deeply and meaningfully.
* Cost recovery mania Moving targets with all new bulls-eyes
* How many more new elections and forms can there be?
* Tax accounting, inventory and UNICAP musical chairs A very big deal
* Interest expense deduction assaulted for some Can you elect out? At what cost?
* Effective dates and strategies are all over the place
* Best moves to make on 2017 and later tax returns
* What about all those tax breaks taken away (tears) What to do now?
* Planning for the short term and long haul to save the most
* Effect on and interaction with state income taxes
* Are you better off after Tax Reform or not?
* Grab it now while its good