December 2017

The Tax Cuts and Jobs Act of 2017 was passed today. It's a monumental tax bill. It's a major victory for the Republican Party. How will this act impact you and your finances? Hello, my name is Paul Carroll. I'm the CEO and founder of Efficient Wealth Management, a boutique wealth management firm. This video is very much focused to our clients and those people who would be clients for us, so there's a number of provisions that we may not discuss in detail. But the two major areas of concern are personal income tax and business income tax. And then, finally, we'll discuss briefly what is the impact - will this actually do good for the economy? On the personal income tax side, briefly, the brackets drop from 10 to 7. The top threshold is $600,000. And the lower rate for the top threshold is 37, dropped from 39.6....