The Tax Act of 2018: What Does It Mean for High-Earning Professionals?

In December 2017 Congress passed legislation known as the Tax Cuts and Jobs Act. Much has been reported in the media about the impact of this event on people up and down the income scale. Notably, there were specific changes included in the new tax law on the treatment of executive compensation. With tax season upon us, you may wonder: Is the Tax Act good news or bad news for high-earning professionals?