The Latest Tax Law Changes that May Affect Your Finances

Every year there are changes to the tax laws. As a result, if you use a tax software program to prepare your tax returns you must buy a new software package every  year. Also, because of the current Affordable Care Act, known as Obama Care, there are even more changes to contend with. Failure to comply with Obama Care may result in financial penalties that may increase your tax liability.

Depending on the tax law changes you may have to make adjustments to your asset protection strategies, your estate plans, and your retirement strategies. The articles referenced here has some similar information but they also differentiate by providing information on other changes not covered by the other articles. 

Below are some important links that discussed the latest tax law changes that all tax payers need to pay attention to:

• Taxes: What You Need to Know for 2016
• 5 Important Tax Changes for 2016
• Be Aware of these Significant Tax Changes in 2016
• 5 Tax Law Changes for 2016 You Need to Know