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No, I haven’t read the 505 page bill and 1097 page total with explanations yet, but it appears the Republicans have the votes to pass a final version of the new tax law, and assuming it gets passed in its current form (as of this writing 12-17-17) and is to the President’s Desk by Christmas, the US will have a new tax law for the new year.
What impact this will have on each person depends on a lot of factors, but let’s review some key parts of the law as a starting point.
Would you like to own an investment which increased in value by 30,000% in the previous year? Then you needed to have been one of the lucky owners of Ripple, the second largest cryptocurrency next to bitcoin as of this writing. On January 4, 2018, one of the co-founders of Ripple temporarily became the fifth wealthiest person in the world displacing Mark Zuckerberg for a few minutes until the price of Ripple sold off by a few dollars.1
Research suggests that the assets advisors tend to focus on -- liquid assets such as stocks, bonds, and cash – represent less than half (45%) of a wealthy person’s portfolio. The other half (55%) consists of illiquid assets such as real estate, stock in privately owned companies, artwork etc. Advisors routinely ignore this “hidden half” – to their detriment and that of their clients. Join Cannon’s Duane Lee and Spardata’s Brad Davidson as they examine the reasons why advisors should take illiquid assets more seriously, and share ways in which they can better serve their clients.
Financial Advisors: Relevance Today and Tomorrow - Advisor Challenges & Consequences: The Changes Driving Disruption Require a New Perspective
Innovation and Business Modeling are classic management activities used by long term successful companies of all sizes and most industries. All businesses today operate in an ever accelerating state of change, and those who plan to survive have a plan that includes innovation and business modeling as key tools to help discover the way forward.