The Tax Cuts and Jobs Act was signed into law by President Trump on December 22nd, 2017. This sweeping tax overhaul will affect almost every individual and business. CCH Group did a fantastic job summarizing the over 500-page tax bill here. This is a must read for all individuals and business owners to understand how you will be affected. In short, it doesn’t. However, it is important to note the repeal of the corporate alternative minimum tax or AMT in the new tax bill which will affect how companies can use their R&D tax credit. Prior to the passage of the Tax Cuts and Jobs Act, corporations calculated their tax burden using two methodologies: the regular tax method and the … Read More
We at Tax Credit Hero are wishing you, your family, and business a prosperous 2018! Below are important tax year 2017 deadlines.