With the new tax law in effect on January 1, 2018, and many corporations having fiscal year-ends that differ from a calendar (December 31) year-end, the ... read more >
OUR THOUGHTS ON:
Letter From Schneider Downs Tax Advisors
Our Thoughts On the Tax Cuts and Jobs Act
January 19, 2018
On December 22, 2017, President Donald Trump signed into law new tax legislation that presents the most comprehensive change in tax law in nearly 30 years. This legislation introduces sweeping changes that will impact nearly all organizations – and individuals – in the United States.
With that in mind, Schneider Downs Tax Advisors has compiled a tax reform guide that highlights many of the most impactful changes affecting US taxpayers. This free resource is available for download. We encourage you to share this with others who may find it informative.
This guide is not intended to replace discussion, but to help prepare for it. We realize you have questions about how this new legislation will impact your organization – and you as an individual. We invite you to review this material, but also to reach out to Schneider Downs to continue monitoring the changes and coordinating related planning options. Our professionals are well-versed in the many details of these tax law changes, and we are prepared to speak with you about how you may be impacted.
On April 2, 2018, the Internal Revenue Service ("IRS') issued Notice 2018-28 announcing its intent to issue proposed regulations addressing the ... read more >
There has been a lot of praise for the National Automotive Dealer Association (“NADA”) for lobbying for the 100% deductibility of floorplan ... read more >
The IRS recently released subsequent guidance on an issue we discussed in a previous Our Thoughts On article (see here). In late March, the agency updated ... read more >
The IRS recently posted to its website FAQs regarding the new Internal Revenue Code Section 45S, "Employer Credit for Paid Family and Medical Leave" ... read more >
The Tax Cuts and Jobs Act (the Act), enacted December 22, 2017, provided many taxpayer-friendly benefits, including a 20% deduction against flow-through ... read more >
On Friday March 23, Congress passed the Consolidated Appropriations Act, 2018, H.R. 1625 (the Act), a $1.3 trillion spending bill designed to keep the ... read more >
Within the recently enacted Tax Cuts and Jobs Act (the “Act”), lawmakers failed to satisfy longstanding promises of a full repeal of the federal ... read more >
Taxpayers attempting to take advantage of perceived loopholes in the Tax Cuts and Jobs Act ("TCJA"),beware: the IRS has been quick to respond ... read more >
For tax years beginning after Dec. 31, 2017 and before Jan. 1, 2026, the original language of the Tax Cuts and Jobs Act (the Act) indicated that “home ... read more >