Heads Up!

Posted on December 20, 2017 by The Weekly Commentary

After a week of intense negotiations, the Tax Bill has passed by both the Senate and the House with expectations the President will sign ASAP. This final Tax Bill carries a January 1, 2018 effective date for most provisions. It will impact virtually every individual and business on a level not seen in over 30 years according to the tax specialists at CCH Wolters Kluwer.

For the vast majority of individual taxpayers, the general recommendation at this time is to accelerate payment of deductions into 2017 and delay the receipt of income into 2018 when possible. Thus, making charitable contributions NOW, paying state and local taxes NOW, and payment of medical bills NOW makes sense.

There are many complications in the hundreds and hundreds of pages of the Tax Bill. We believe the best approach is provide basic information to you today and field your questions as they arise. To get started, we provide a Tax Briefing from CCH Wolters Kluwer – click here for the Tax Briefing, or visit our website to find the link at valleynationalgroup.com/tax.

Our tax software will be updated as soon as possible according to our providers’ time lines. As soon as the software is updated we can provide detailed answers to your questions. Until that time, we can provide general guidance and advice. Feel free to contact us – we have the answers!

Valley National Financial Advisors, and its family of companies, has been in the Lehigh Valley since 1985. The company is independent and locally owned. As a respected and trusted organization, our relationships with many clients and their families transcend generations. We have the expertise to provide clients with financial strategies to effectively manage their existing assets and to provide for the eventual transfer of their wealth.

Our one-stop service model includes: Financial Planning – Investment Management – Estate Planning – Retirement Planning – Education Planning – Tax Planning & Preparation – Insurance Planning – Trust Services, offered as a Trust Representative Office of National Advisors Trust Company, FSB – ExecutiveEdgeTM, Personal Financial Planning for Corporate Leaders. Our services are provided by a team of objective professionals and managed by one contact person – your personal financial advisor.

Valley National Financial Advisors is proud home of the Lehigh Valley’s most CFP® – Certified Financial Planner Professionals^TM. Among other honors, Valley National has been voted Best Financial Planner in the Lehigh Valley seven times by the readers of Lehigh Valley Magazine, and ranked among FA Magazine’s Top RIAs and AdvisorOne’s Top Wealth Managers.

For more than years, our firm has been devoted to helping our clients to achieve their hopes, dreams and aspirations. This requires a delicate balance between the science of financial planning and the art of understanding the feelings and emotions of our clients and their families.

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