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Under Tax Bill, Should You Take 2017 Payment, Or Defer Until 2018?

The Tax Cuts and Jobs Act here is a complex 429 pages, so you may want to start with a summary of the plan. It isn't inked yet, and make no mistake, there's jockeying going on in Washington. All that adds considerably to the usual year-end tax shuffle. Even without the mad scramble caused by a major tax bill at year-end, as the holiday season approaches, many taxpayers start thinking about their taxes. People who are about to come into a sizable sum have extra reasons to plan. You might be settling a lawsuit, selling your company, or selling a nice cache of highly appreciated bitcoin or other cryptocurrency. You might be collecting a fat consulting contract, and timing the payment of an outsize invoice. You might be exercising stock options, which involves buying stock, but can trigger taxes on that purchase.

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