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In light of current political conditions, comprehensive tax reform for corporate and other business entities is remote. However, there are some likely provisions that may be included in any basic reform.

Key Takeaways

  • It’s difficult to do income-tax planning under the assumption that sweeping tax reform will occur soon. However, we can pay attention to the general themes to be poised for quick decisions.
  • Despite uncertainty, early planning ensures investors can take advantage of all opportunities available that might benefit their situation.
  • Several wealth-planning strategies are available for individuals to help minimize taxes and retain or transfer more of their wealth efficiently.