A nice refresher of the Tax Cuts and Jobs Act.

It is a good time to take a mid-year look at how you may be able to reduce your tax bill at the end of the year.

For the last several years, taxpayers have faced great uncertainty determining whether they can depend on tax incentives to help them lower taxes. These have become known as the “51 Tax Extenders”. Last December, Congress extended most of these provisions for one year retroactively to the beginning of 2014, but not going forward, so they expired again at the end of 2014.

Thomson Reuters is forecasting the tax rates for next year and predicting they will be adjusted upward in line with modest inflation.