What Does Tax Reform Mean for 401(k) Savers?
It’s been little over two months since President Donald Trump signed the Tax Cuts and Jobs Act of 2017 into law. The new regulations went into place January 2018, and you may have noticed a change in your paycheck as soon as February. Of course, your tax filing this April won’t change, as that will still be for the 2017 tax year. While the amount of media coverage focused on the new law was enough to cause a state of panic, in reality, the law won’t have much of an impact on 401(k)/403(b) savings. Here are the important changes you’ll want to be aware of for the 2018 tax year: