On December 22, 2017, legislation put into effect the most sweeping tax since the Tax Reform Act of 1986 was signed into law. The Tax Cuts and Jobs Act of 2017 (TCJA) significantly reduces the income tax rate for corporations. It also provides a large new tax deduction for owners of pass-through entities and significantly increases individual alternative minimum tax (AMT) and estate tax exemptions. And it makes major changes related to the taxation of foreign income.

Please check out this link to a printout of some of the major changes. Tax Cuts and Jobs Act Information for Businesses

Many of these changes require a detailed explanation. Please contact us cpa@kochcpas.com and we will send you a more complete explanation of the tax changes; or for greater detailed information on any subject, personal or business.

Call Us at 941-637-0544 if you have any questions! We look forward to hearing from you!