The Tax Cuts and Jobs Act (TCJA) marked the largest change to current tax code in over 30 years. These changes impact individuals and businesses in a number of ways including tax brackets, deduction thresholds, and the treatment of estates and gifts. In some areas, there may be increased tax relief while, in other areas, relief from tax has been eroded.
Much of these changes necessitate a reassessment of one’s tax position and related strategies. For instance, some people with W-2 income may come to find that employers under withheld during 2018. This could translate to smaller refunds or even larger tax bills during the filing season. Business owners, however, may find some additional tax relief depending upon the structure of their business and nature of their deductions.
Although characterized as making taxes simpler for folks, the number of changes does require additional attention by you and your tax professional this season. This is a good time to reassess your financial goals to ensure that they are aligned with the new tax regulations. This presentation will share some of these changes with you along with how they might impact you and what you could do to effectively mitigate your tax obligations.
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Jeff Neumeister is a well-educated and experienced forensic expert and consultant in accounting and financial advisory services. Small organizations, startups, holding entities, high-net-worth individuals, and middle market companies, directly and through their retained counsel, have relied upon Jeff to identify problems, uncover frauds, improve efficiencies and to initiate and defend against litigation. Over his 15 years of professional experience, he has worked in firms ranging in size from large international entities to smaller regional practices.
Jeff has been designated as an expert in multiple cases and has provided valuable deposition testimony for his clients. He has provided litigation advisory services to clients spanning a breadth of industries including construction, entertainment, health care, investments, information technology, professional services, retail, oil and gas, real estate, education, food and beverage, transportation, pharmaceutical, and manufacturing. Jeff has provided business valuations for litigation and non-litigation purposes. Jeff has also managed the financial due diligence process for both buy and sell transactions. Through the use of sophisticated analytic solutions, investigative techniques, and an understanding of accounting, he has found effective solutions for a range of clients' problems including with tax, operational, financial, and special projects.