Ask the Accountant: Don’t procrastinate. Change can result in opportunities


Today’s Ask the Accountant questions are:

What are the planning opportunities for trusts and estates in light of tax reform?
I work for a nonprofit and want to know why the IRS selects certain Form 990s to examine.
We have not started planning for the new revenue recognition standard. Where should be we start?

Question 1: What are the planning opportunities for trusts and estates in light of tax reform?

If you live in a state with high income tax rates, the limitation on state and local tax…

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