1. Seek investment vehicles with steady high income. Among those investments that grow more appealing are REITs; high-dividend stocks, like those of energy companies and utilities; and master-limited partnerships.
If you've avoided those investments because you were trying to minimize taxes, you might want to take another look. Their value might also rise in the market as they are more in demand.
"The aversion to income under current law, given the high rates at which it is taxed, can be abandoned under the House plan," said Bob Willens, a New York City-based tax analyst for hedge funds, in an email to CNBC.
Master-limited partnerships, which are publicly traded companies often in the pipeline business, are another high-income option, said Ramon Camacho, tax principal at Chicago-based accounting firm RSM. Two large master-limited partnerships are Enterprise Products Partners (EPD ) and Enterprise GP Holdings (EPE), according to Morningstar, which noted that "most MLPs offer very attractive yields, generally falling in the 5 percent to 7 percent range for limited partnerships and 3 percent to 4 percent for general partnerships."
You can also find ETFs that track master-level partnerships, including Alerian MLP ETF (AMLP) and the First Trust North American Energy Infrastructure Fund (EMLP).
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Weighing the pros and cons of using hedge funds
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Use tax mapping to keep more of your income in retirement
As a side effect, the tax reforms might do away with one of the strange incentives in the tax code — that long-term capital gains were taxed at a lower rate than interest and dividend income. That has resulted in people steering investment capital into investments like real estate.
"Investors can look for investments which produce high levels of income, secure in the knowledge that such income will be taxed at the same preferential rates as capital gains would be," Willens wrote.