Although some have criticized the process and the policy decisions in the formulation of this major tax system overhaul, we in the tax and accounting industry wanted action and less talk about “maybe this will change and maybe that will stay.” We are about to get our wish for something—anything—in concrete so we can get tax plans in place before year end and have answers to the many questions our clients are asking about what tax reform does to their 2018 tax bill.
On December 15, 2017, Congressional Republicans released a 1097 page document, their reconciliation of the House and Senate tax reform bills. Only two steps are left before The Tax Cuts and Jobs Act of 2017 (H.R. 1) is sent to the President for his signature: a vote in the House and a vote in the Senate. Votes are expected this week with the bill on the President’s desk at the end of the week.
Here is a comparison chart that briefly summarizes the major provisions affecting our individual clients.
Tax Reform 2018 — Individual Clients (PDF)
Overview of the Tax Cuts and Jobs Act: Planning Opportunities for CPAs
The Tax Cuts and Jobs Act will be the most significant tax reform in 30 years. This course will provide updates on the current status of the legislation and discuss related year-end planning opportunities. Sessions Added Due to Demand.
NEW TAX REFORM SEMINARS!
One-Day 2018 Tax Reform SeminarsGet the most comprehensive, informative tax reform info. Find a Tax Reform Workshop location near you with 20 seminar locations. Get the tax reform information you need—and all those nagging questions answered—before summer vacation hits!