The Tax Cuts and Jobs Act is a whopping 1,097 pages long, including the Conference Committee report that follows it. Advisors, unlike federal lawmakers, don’t tend to have armies of staffers to help them read through bills that are critically important to their clients.
So we’re here to help you digest this mammoth new law that President Donald Trump signed Friday.
Here is the full text of the bill. We’ve put together a table of contents of sorts of the sections most relevant to advisors, focusing on tax changes for individuals. When possible, we used the Conference Committee report, which reconciles the House and Senate bills and then summarizes the agreed-upon changes for each provision.