Mariner baseball and changes to the tax laws!

Rick Walter, CPA
Latest posts by Rick Walter, CPA (see all)

As tax season fades and the baseball season is a third in the books, we start to invest in both.

We as sure that the Mariners are going to finish last since they started out losing most of their first 10 games. Then, we are more optimistic when they get back to playing 500 baseball.

Doesn’t take long until our four best pitchers are injured and fall back 10 games only to later go on to win 9 of our last 10 games.

The same can be said of the various tax laws that have been floated by the president and congress. We tell our corporate clients, hang in there and when those rates on corporate profits drop, you will want to be a corporation.

However, with all the noise going on in Washington DC, I’m unclear if any significant tax laws will be passed. Certainly not in the near future so what is the strategy for my clients—both individuals and entities?

Rely on the laws we currently have for decisions in the next year or two and then we might have a better idea. Will Capital gains go down—will the estate tax go away—will rates fall on all types of returns? The Trump plan has all of these things happening.

Just like Mariner Baseball. We want them to win—we root for them to win—and we believe they will win. The question is always WHEN?

To use some of the old George Bush lines that Dana Carvey did so well, my advice is to:

“Stay the course”

Significant changes “Wouldn’t be prudent at this juncture”

It’s kind of hard without the hand gestures!!

Thanks for listening and I will talk at you again.

Author: Rick Walter, CPA

Rick Walter brings over 25 years of professional tax and accounting experience to Hutchinson & Walter. Specializing in small to mid-size business entities and start up organizations, Rick brings a deep understanding of the unique tax compliance and accounting issues specific to those entities.

Leave a Reply