We're only a couple of months into the new year, yet accountants are already drafting strategies to help their clients save on taxes under the new tax code.
A survey from the American Institute of Certified Public Accountants showed that 63 percent of affluent individuals said they were likely to tweak their financial planning strategies.
Last September and October, the organization took an online poll of 507 adults who have at least $250,000 in investable assets or more than $200,000 in household income.
The Tax Cuts and Jobs Act took effect this year, rolling out some major changes to the way individuals and businesses file their taxes. Key changes include the doubling of the standard deduction to $12,000 for singles and $24,000 for married couples who file jointly, the elimination of personal exemptions and sweeping changes to itemized deductions.