A Multidisciplinary Approach to the New Tax LawA Multidisciplinary Approach to the New Tax Law

Representing the largest overhaul of the U.S. Tax Code in more than 30 years, the Tax Cuts and Jobs Act of 2017 was supposed to provide tax simplification. Yet, the Act is full of phase-outs, phase-ins, threshold limitations and ill-defined terminology. Instead of tax simplification, many taxpayers and advisors are faced with tax complications.  

No single planning discipline has the expertise to adequately address the many facets of the Act.  Providing proper planning advice in view of the sundry of complexities of the Act will require greater collaborative efforts by the multidisciplinary team. From the newly added Internal Revenue Code Section 199A, to the doubling of the estate, gift and generation-skipping transfer tax exemptions, ne...