After 31 years, Congress has passed major tax reform legislation and sent it to the President for his signature. The bill is the most significant tax reform in a generation and is intended to provide an additional catalyst to grow the economy and stimulate job growth and higher wages. For industrial products organizations in the manufacturing, aerospace and defense, chemical, and automotive sectors, the new provisions are significant and will likely impact their businesses for years to come. Read More
The new tax bill became law on December 22nd. Like many laws, some people will be affected more than others. The consequences of the new law will be felt as early as 2017, with some provisions set to start in 2018 and others in 2019. Below are a few of the items that may affect you.
Tax brackets have changed. There are still seven tax brackets, but income is now taxed at a different rate. Read More