• Tax Bill Makes 2018 the Year of the Deal – WSJ

• Cut Your Tax Bill: What to Do Before Jan. 1 – WSJ

• Tax Bill Removes 4.2 Million Households From Income Tax in 2018

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• This one looks pretty good!

  • Tax Geek Tuesday: Making Sense Of The New “20% Qualified …

• Consequences Of New Tax Law According To J.P. Morgan Chase

• What the New Tax Law Means for You – Barron’s

• 5 Homeownership Changes Coming Under New Tax Law – NerdWallet

Year-end tip: Your deductions may be worth more this year than next, consider advance paying some deductable expenses.

Whats’ a ‘retroactive election’?

Most small-business owners and even some tax preparers don’t realize that you can make a retroactive election to be an S-Corp for 2017 if you already have been operating as an LLC all year long. A tax accountant or CPA can help you with the procedure and make reference to the proper revenue procedures to include with your Form 2553. Many believe there is a hard and fast 75-day rule at the beginning of the year to make this election for all of 2017. This is certainly not the case. Talk to your CPA to follow the correct procedure to get a retroactive election accepted.

Year-end tip: Make a retroactive election for your LLC to have an S-Corp for all of 2017, and get your payroll allocation completed before year-end.