On December 22, 2017, the current U.S. Administration enacted one of the most sweeping changes in the United States Tax Code since 1986. The Tax Cuts and Jobs Act is estimated to cost $1.5 trillion. With respect to estate planning, the federal estate tax credit doubled but was not repealed; however, trust income is now taxed starting with the first penny of income received. In terms of business taxes, whether a smallbiz owner will benefit depends on whether the smallbiz is selling or making widgets, is in the service sector, or is in the real estate industry. If your business is in the service sector, like ours, consider yourself the “monkey in the middle” because you are likely uneligible for the tax deductions given to widget-makers or brickholders. The rest of the Act’s implications are widely known, so we’re not going to rehash them here. Plus, we’re still trying to figure out how we’re going to pay the $1.5 T price tag.