The Tax Cuts and Jobs Act (TCJA) of 2017 enacted the biggest tax reform overhaul in decades. It had a monumental impact on corporations where the AMT was repealed, and the top tax rate was reduced from 35% to 21%. Likewise, the introduction of a new 20% Qualified Business Income (QBI) deduction for pass-through businesses created an appealing tax break for small businesses and a potential desire to restructure existing businesses to better qualify for the deduction.
This webcast provides a comprehensive overview of changes to tax rates, the increased standard deduction and the new QBI deduction. We will explore tax planning developments and opportunities under TCJA, so you can plan to take advantage of the new rules!
Basic knowledge of tax compliance and planning concepts