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Tax Bill Won't Leave Much Time to Figure Out What It Does Before It Starts Doing It

GOP hopes to pass bill before Christmas, have it take effect January 1

(CARMEL. Ind.) - If Republicans' tax reform bill passes, it'll take effect while financial planners are still figuring out what it does.

Congress's plan is to pass the bill before Christmas -- and have it take effect January 1. Carmel financial adviser Peter Dunn, host of WIBC's "Pete the Planner" show, says you're not going to miss an opportunity by waiting a few months while planners try to figure out just what's changed, and how to maximize your benefits.

Dunn says the final version could affect the way you plan financial decisions from your tax deductions to your retirement accounts. He recommends doing the same thing he is -- read everything you can find to try to get a handle on the details.

(Photo: Valeriya Potapova/Thinkstock)

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