The Tax Cuts & Jobs Act

 

News and Articles

Tax Incentives and Credits for New Jersey C Corporations

Posted: September 14, 2018
Manu­facturing C corporations doing business in New Jersey are benefiting the most from the Tax Cuts and Jobs Acts (TCJA) because the corporate income tax paid to New Jersey, or any other state where the company conducts business, is deductible on its federal tax return. This may or may not be the case for flow-through entities.

Taxpayer Reminder: Guidance on Charitable Contribution Deduction Limitations for Property Tax Payments

Posted: September 11, 2018
Guidance proposed by the U.S. Department of the Treasury and the IRS in August would limit the amount that can be claimed as a charitable contribution deduction when the contribution results in a credit toward their property tax bill.

Mitigating Risk Related to Tax Reform

Posted: September 6, 2018
Two primary liability risks are expected for tax practitioners as a result of the Tax Cuts and Jobs Act. Proper planning can help practitioners avoid these risks.

Payments Under State or Local Tax Credit Programs May Be Deductible as Business Expenses

Posted: September 6, 2018
The IRS has clarified that business taxpayers who make business-related payments to charities or government entities for which the taxpayers receive state or local tax credits can generally deduct the payments as business expenses.

Less Than Half of CPAs’ Clients Have Reviewed and/or Updated Their Withholdings Following TCJA

Posted: August 28, 2018
More than 50 percent of CPAs surveyed earlier this month said that less than half of their clients have reviewed and/or updated their withholdings due to the tax changes from the 2017 Tax Cuts and Jobs Act.

5 Top Tax Reform Opportunities for Businesses

Posted: August 27, 2018
There are no fewer than 130 new tax provisions in the Tax Cuts and Jobs Act, but with tax practitioners starting to focus on helping clients address the act’s impact, here are five major planning opportunities for businesses.

Presentation Materials

The AICPA has developed two PowerPoint presentations for CPAs to use when discussing the Tax Cuts & Jobs Act with various audiences: