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New tax law may shift year end planning for families
Tax experts warn Congress changes affect year end strategies, with credits for first and second year college students and lifetime learning credits starting in 1998. Capital gains rates may vary by holding period, influencing when to realize losses or gains. Delaying income or accelerating deductible spending remains key, with Roth IRA rules expanding next year and the overall planning focus on maximizing after tax value.
MENTIONED IN THIS ARTICLE
Congress
Greg Bostian
Rhea & Ivy
Constituent
Bostian
Michael Klein
Hill
Klein
Memphis
Price Waterhouse LLP
Sullivan