The Tax Genie genie
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the Taxpayer Relief Act of 1997

Here's a quick synopsis of the recently enacted tax bill:

$500 Per Child Tax Credit

Education

Individual Retirement Accounts

Capital Gains

Estate and Gift Tax

Small Business

Alternative Minimum Tax

Airline Ticket Tax

Tobacco Taxes (included in the spending bill)

Not included, was the deemed liquidation rule for C corporations electing S status.

There's a lot included in this bill and we will be providing you with more information as the year progresses. But if you have any questions about the new law - or how it may affect you - call us now.


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