In light of recent legislation passed by the House and Senate, we are providing an update on the new tax act as well as suggestions you may want to consider for tax planning for 2017. This legislation is considered to be one of the largest changes to tax law in several decades. The provisions affect every type of entity (including nonprofits) and individual taxpayers. The summary provided is not inclusive of all of the provisions of the bill but addresses those we thought would affect the majority of our client base. We urge you to read through this information and reach out to your Mitchell Wiggins tax advisor with questions (Richmond 804.282.6000 | Tri-Cities 804.733.5566). We look forward to helping our clients navigate through these changes and will provide more information as it becomes available.