The Tax Cuts and Jobs Act of 2017 (TCJA) was signed into law on December 22, 2017. This long-awaited tax reform was the most sweeping tax legislation our nation has seen since the Tax Reform Act of 1986 was signed into law by President Reagan. TCJA made reductions to income tax rates for individuals as well as significantly reduced income tax rates for businesses. Unfortunately, in providing new opportunities for tax reductions, the legislation also created many additional questions and some confusion as business owners began sifting through the new law. Tom Lalley, CFA, CFP®, and Bill Bruns, Principals of John D. Dovich & Associates, LLC, recently met with Thomas J. Munninghoff, CPA, JD, Mark L. Connaughton, CPA, and Jonathan J. Hickman, CPA, from Munninghoff, Lange & Co. to discuss what the new tax law has meant for business owners in the past year.
Mon, Apr 29, 2019