A tax bill has cleared the President’s desk. Find out what it will mean for you and your clients.
Individual changes including:
•New tax brackets for individuals;
•Dramatic changes in itemized deductions;
•Modifications to education incentives;
•Doubling of estate tax unified credit;
•Changes in alimony rules; and more
Business changes including:
•21% rate for C corporations;
•Special deduction for unincorporated businesses;
•Expanded cost recovery;
•Expansion of cash basis accounting;
•Business interest deduction limitation;
•New operating loss rules; and more
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