The Tax Cuts and Jobs Act added Sec. 1400Z which allows taxable gains invested in a Qualified Opportunity Fund (QOF) to be temporarily deferred and adds the potential for any appreciation in the Qualified Opportunity Fund investment to be permanently excluded from tax.
Read MoreOn 12/22/17, President Trump signed into law the Tax Cuts and Jobs Act (TCJA). The TCJA brings a host of provisions that could impact your tax situation. The changes also bring some tax planning opportunities. This summary highlights what we think are key points and planning strategies after the TCJA that will impact individual taxes. Business tax provisions and strategies will be discussed in a later tax update.
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