The Affordable Care Act (Obama Care) looks to be the first target of a Republican-dominated House, Senate and President!
Much in the ACA is entangled in the current tax code; it will not be as simple as defunding it. The employer and individual mandates, the premium tax credit, the (so called) Cadillac Tax, the earned income surtax (just to name a few examples) will all have to be revisited.
Be on the lookout for big and potentially complicated tax changes as our President and legislators unwind this enormous law we now call ObamaCare.
While we are at it, just an FYI: The shorter depreciation schedule for race horses appears to be expiring!
Please consult your tax professional for more details and information prior to making any changes!