The Tax Cuts & Jobs Act

 

News and Articles

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.

More Than 70 Percent of CPAs Polled Say Treating NJ Property Tax Payments as Charitable Contributions Would Not Hold Up with the IRS

Posted: January 29, 2018
More than 70 percent of the 828 certified public accountants (CPAs) who were polled this month by the New Jersey Society of CPAs (NJCPA) said treating New Jersey property tax payments as charitable contributions would not stand up to legal scrutiny by the Internal Revenue Service (IRS).

Rules for NJ and Federal Property Tax Deductions Vary Widely

Posted: January 11, 2018
New Jersey taxpayers who prepaid one or two quarters of their 2018 property tax assessments at the end of 2017 need to be aware that the amount they can deduct on their federal tax return is not the same as the amount they can deduct on their state tax return.

7 Steps Employees Can Take to Adapt to the New Tax Law

Posted: January 3, 2018
Tax laws are likely to affect you. Whether you see a net benefit in your paycheck or end up paying more is a function of personal factors. The following article lists 7 steps in adapting to the new tax law.

Presentation Materials

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