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Tax Reform and How It Impacts You

  • Oppenheimer & Co. Inc.
  • January 18, 2019

Here is a brief snapshot of the most impactful changes to the tax code under the Tax Cuts and Jobs Act of 2017 for financial advisors and their clients.

Within the first few weeks of 2019, Americans will start to collect their W2s and other tax documents in preparation for their first tax filing under the Tax Cuts and Jobs Act of 2017, the landmark legislature signed into law in December 2017 by President Donald Trump. Many Americans have already felt the first phase in their paychecks with changes to the individual tax brackets.


5 Key Takeaways for
Tax Reform

Review the full list of changes and see how you may be impacted. Speak with your tax advisor to see if taking the standard deduction makes more sense.

Determine if the lending options to buy a home or use your home equity will affect you.

Understand how much you may be paying in income taxes and property taxes and what the implications are of those changes.

Review your estate plan and any cash gifting or donations to charity you are making and what the increase of the limits means for you.

Start or update your financial plan and your planning process with your Oppenheimer financial advisor to adjust and plan for how these changes will impact your life!

The entire law is online for you to read all 503 pages of it. We’ve highlighted the key takeaways, what they mean and the potential impact they may have on you.

Before you make any decision based on this material, please be sure to discuss the implications you may make with your tax professional. Oppenheimer does not provide legal or tax advice. Consult your tax advisor regarding all tax-related issues.

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