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What Does the New Tax Bill Mean For You?

As the Tax Cuts and Jobs Act, introduced on November 2, 2017, makes it was through the Senate today for a final vote* before heading to President Trump's desk, most of you are probably wondering how the new tax bill may affect your business and personal tax liability. In order to help those wondering minds, I present the following brief summary of some key changes: What does the new tax bill mean for you, individually: According to Congress’ official website, the new tax bill, as written, changes the following as it relates to an individual’s taxes: Replace the 7 existing tax brackets to 4 brackets (12%, 25%, 35%, and 39.6%). Increases the standard deduction to $12,000 for individuals, $18

The Business Owner's Guide to Asset Protection

Asset protection is about protecting the “things” you’ve worked your lifetime to accumulate. It may sound easy but yet many people don’t seek to take the necessary asset protection steps until it’s too late. This article will first explain why asset protection planning is a crucial part of any comprehensive estate plan and then it will provide an overview of Florida’s asset protection strategies. Safeguarding Your Assets The mechanism used to safeguard assets is different for everyone. For some, it’s hoarding cash under a mattress. For others, it may be having a safety deposit box. While others, may choose to take more drastic measures such as using an offshore bank account and hiding a

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