Tag Archives: tax reform
The Senate passed its version of the Tax Cuts and Jobs Act at approximately 2 a.m. on the morning of December 2, 2017, almost entirely along party lines. The final vote was 51-49 with only Senator Bob Corker (Republican, Tenn.) defecting. The House is scheduled to vote December 4, 2017 regarding conferencing with the Senate […]
By Rich Daisley, CPA As Tax Reform legislation works its way through Congress, we’ve mostly heard about its potential impact on personal or corporate income tax bills (i.e. “how will the GOP tax plan affect me?”) However, those involved in the financial reporting process should also be considering how potential tax reform could impact financial statements. […]
By Nick Spoltore On November 9, 2017, the Senate released its Description of the Chairman’s Mark of the “Tax Cuts & Jobs Act,” detailing many proposed changes to the Code. The following highlights are major points of the proposed legislation. The changes apply to tax years beginning in 2018 unless noted. 2017 Tax Rates – […]
By Nick Spoltore On November 2, 2017, the House released The Tax Cuts and Jobs Act. It is the most comprehensive tax legislation since 1986. Its intended tax reform may very well affect each American taxpayer. The Senate just announced it will release its own tax reform legislation by the end of this week, so […]
By Nick Spoltore Early on November 2nd, a press release from the U.S. House of Representatives Committee on Ways & Means provided policy highlights of the Tax Cuts & Jobs Act. The following are the hot-off-the presses details you and your clients need to know. The tax rates will be 12%, 25%, 35%, and 39.6% – retaining the current […]
By Nick Spoltore On September 27, 2017, the Trump Tax Reform Plan (the framework of the “Big Six” group of Congressional and White House tax-reform precepts) was released. In the document, titled “Unified Framework For Fixing Our Broken Tax Code,” President Trump lays out four principles for tax reform at the core of this unified framework: 1. […]
Trump Administration’s Plan to Raise Standard Deduction Could Reduce Schedule A Filers by 80 Percent
If the Trump Administration’s plan to raise the standard deduction becomes law, Surgent CPE estimates the number of Schedule A Filers will be reduced by 80 percent.
Meet the stars of Surgent’s Futurecast, premium webinars delivering practical & timely insights from national experts. In this video, meet tax expert Tony Nitti, CPA, and learn more about the Trending in Tax episodes he’ll be teaching.
The core principles of the Trump tax reform plan were revealed on April 26, 2017. Many details are still being negotiated, but here’s a recap of the latest.
In anticipation of President’s Trump’s proclaimed “big tax reform and tax reduction” announcement on April 26, we take a closer look at the proposals of each of the key players in the Republican tax reform effort.