Strat­egy

Accounting Today - - Taxpractice - From page 23

A Tax­payer Iden­ti­fi­ca­tion Num­ber is no longer suf­fi­cient; how­ever, it is suf­fi­cient for the new $500 credit for a qual­i­fy­ing de­pen­dent. The So­cial Se­cu­rity num­ber can be is­sued up un­til the fil­ing date for the tax re­turn.

529 plans and ABLE ac­counts. Look at new op­tions to pay ele­men­tary and sec­ondary tu­ition from 529 plans and new op­por­tu­ni­ties to pro­vide in­creased fund­ing for ABLE ac­counts from 529 plans or the ben­e­fi­ciary’s in­come. The at­trac­tive­ness of ABLE ac­counts still suf­fers, how­ever, from the fact that the funds re­vert to the state on the death of the ben­e­fi­ciary. Spe­cial needs trusts may re­main a more at­trac­tive al­ter­na­tive.

Do the usual. In ad­di­tion to some of the spe­cial is­sues for 2018, tax­pay­ers

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