The Tax Cuts & Jobs Act

 

News and Articles

Understanding the New Sec. 199A Business Income Deduction

Posted: April 9, 2018
The deduction, which lets businesses other than corporations deduct 20 percent of qualified trade or business income earned in a qualifying trade or business, is subject to limitations. Find out what they are and how the deduction works.

IRS Issues Guidance on Business Interest Expense Limitations

Posted: April 2, 2018
The notice describes rules addressing the calculation of the business interest expense limitation at the level of a consolidated group of corporations and other rules to clarify certain aspects of the law as it applies to corporations.

IRS Encourages ‘Paycheck Checkup’ for Taxpayers to Check Their Withholding

Posted: March 26, 2018
In light of the Tax Cuts and Job Act, taxpayers are encouraged to do a “paycheck checkup” to make sure they have the right amount of tax taken out of their paychecks for their personal situation.

Highlights of the Tax Cuts and Jobs Act

Posted: March 9, 2018
Among the major tax law changes are reform of individual tax rates, treatment of business income of individual taxpayers, repeal of individual tax deductions, reduction in the corporate tax rate and increase in deductions for business capital investment.​

Taxpayers Should Review W-4s Amid Release of New IRS Withholding Calculator

Posted: March 6, 2018
The IRS has a new version of Form W-4 and a new withholding calculator with the 2018 changes to assist taxpayers. NJCPA is reminding taxpayers to review their W-4s amid the release of the new IRS withholding calculator.

Almost 50 Percent of CPAs Say New Jersey Corporations to Benefit from Tax Reform

Posted: February 26, 2018
Almost 50 percent of the CPAs surveyed recently said that their company/their client companies will see tax savings from the Tax Cuts and Jobs Act of 2017.

Interest on Home Equity Loans Often Still Deductible Under New Law

Posted: February 22, 2018
Despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit or second mortgage, regardless of how the loan is labelled.

FASB Improves Income Tax Accounting Related to the Tax Cuts and Jobs Act

Posted: February 14, 2018
The Financial Accounting Standards Board has issued an Accounting Standards Update that helps organizations address certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.

Presentation Materials

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