The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, will broadly impact businesses of all sizes.
The bill significantly reduces the income tax rate for corporations and eliminates the corporate alternative minimum tax (AMT). It also provides a large new tax deduction for most owners of pass-through entities and significantly increases individual AMT and estate tax exemptions. And it makes major changes related to the taxation of foreign income.
You may even be able to utilize some enhancements on your 2017 tax return. Read more