Latham: 518.785.0134 | Queensbury: 518.792.6595
What are you telling clients about the new federal tax act?
Kevin P. O’Leary: The first thing we’re telling them is be patient. We won’t know the benefit of a lot of this for a few years. A lot of people were rushing to, hey, let’s be a C corp. again, or let’s do some crazy things. This bill, more than any bill that I’ve been a part of, has got more press from start to finish, and I think a lot of people are going to rush to do so many different things.
At the end of the day, for the majority of the taxpayers, some of the mathematics will change, but ultimately the return itself isn’t going to change for a lot of people. Just slowing them down is the first piece of advice we’re giving people.