2018 Tax Planning under new Trump Tax Cuts and Jobs Act
2018 tax planning is very important this year. Come join our next First Friday Networking at Noon (FFN@N) event on November 2nd. Mark Swanson, CPA, CGMA, CVA is a partner of Moore Beauston & Woodham, and will come talk about year end tax planning in this first year under the new Trump Tax Cuts and Jobs Act. Come for the complimentary lunch and bring a friend. Be sure to RSVP below.
What are some changes under the new Tax Cuts and Jobs Act?
It cuts the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual tax rate drops to 37 percent. It cuts income tax rates, doubles the standard deduction, and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025. It affects 529 Plans as well as ABLE Accounts.
Mark Swanson, CPA, CGMA, CVA Bio
Mark is a Partner and manager of the firm’s Greenville, SC office. He has over 20 years of public and private accounting experience.
Mark received his Bachelor of Science Degree in Accounting from Bob Jones University and a Masters of Professional Accountancy from Clemson University. His areas of specialty are corporate and individual income tax planning and preparation, business consulting and tax preparation for various nonprofit institutions, preparation of business valuations for corporate acquisitions and dispositions, family limited partnerships, buy-sell agreements and corporate litigation.
Mark has been the presenter at various seminars and has previously been an adjunct professor of tax at Bob Jones University. He also served on the boards of several charitable organizations in Greenville and the Upstate including The United Way, Meals on Wheels and Carolina Hope Christian Adoption Agency.
Mark is a member of the American Institute of Certified Public Accountants, South Carolina Association of Certified Public Accountants, and National Association of Certified Valuators and Analysts.