The Tax Cuts & Jobs Act

 

Tax Reform Events


Presentation Materials

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

Many Corporations Will Pay a Blended Federal Income Tax This Year Under the New Tax Reform Law

Posted: April 16, 2018
Due to a provision in the recently enacted Tax Cuts and Jobs Act, a corporation with a fiscal year that includes Jan. 1, 2018 will pay federal income tax using a blended tax rate and not the new flat 21 percent tax rate.

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.

NJ Lawmakers Lay Out Plan to Help Small Businesses, Partnerships Preserve Deductibility of State Income Taxes

Posted: March 6, 2018
Four New Jersey Senators have announced a bipartisan legislative initiative that will preserve the federal deductibility of an estimated $23 billion in state income taxes for New Jersey’s small businesses and partnerships.

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.

AICPA Sends Congress Recommended Technical Corrections to New Tax Law

Posted: February 22, 2018
Recommendations include clarifying the effective date for net operating losses for fiscal year filers, clarifying the property class life on qualified improvement property and correcting a section concerning charitable deductions that reduces the allowed charitable deduction if assets other than cash are donated.