By Steven J. Bokiess of FGMK (Chicago, Illinois, USA)
Donald Trump’s election, and the continuing control of Congress by the GOP, are expected to bring about tax law changes for individuals and businesses. Throughout his campaign, President-elect Trump promised to take up tax reform, including reduced income tax rates, expanded tax breaks for families, and the repeal of the Affordable Care Act. While it is too early to predict what the final version of tax reform will look like, if and when it passes, or whether it will be retroactive to January 1, 2017, Trump’s tax plan as laid out during his campaign is an indicator of the shape that future tax reform may take.
