OWM Blog – New Tax Laws and Ways They May Affect You

tax lawyer in montgomery county

The Tax Cuts and Jobs Act (TCJA) is a huge and complicated revision of the federal tax law.  It will take some time and expertise to parse out exactly how it will affect each of us as individuals.  How Congress intends to “pay” for this law remains to be seen since a projected reduction in tax revenues of $1.5 trillion over the next 10 years will be added to the current deficit.  There is talk currently of “entitlement reform” or reducing/eliminating Medicare, Medicaid, and/or Social Security benefits.  Keep alert for more to come on these subjects, and contact a tax lawyer in Montgomery County with any questions.

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