Putting all the pieces together.
Rushed through Congress at lightning speed, the new tax structure contains many new and confusing elements. This webpage provides information on the provisions and resources to help you understand what this will mean to you and your business.
Reform Highlights
- Reduction in corporate tax rate
- Deduction for pass through income
- Extensive changes to computation of business taxes
- Fundamental overhaul of framework for US international tax system
- Extensive changes to computation of income tax for individuals
- Estate tax changes
- Expanded compensation deduction limits and excise taxes
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RESOURCES
LEGALcurrents
- Changes to Withholding and Fringe Benefits Under the Tax Reform Act
- Comprehensive Tax Reform Enacted
- Summary of Exempt Organization Tax Reform
- “Tax Reform Act:” What Happened to Estate, Gift and GST Taxes
- Corporations Should Consider Accelerating Compensation Deductions in 2017
Articles
- Implications of the “Tax Cuts and Jobs Act, Rochester Business Journal
- Tax Reform’s Impact on Exempt Organizations, Rochester Business Journal
- New tax law revolutionizes international finance for U.S. companies, Rochester Business Journal
- Corporate tax changes under the Tax Cuts and Jobs ActTax Cuts and Jobs Act, Rochester Business Journal
- Parsing the passthrough deductions under the Tax Cuts and Jobs Act, Rochester Business Journal
- Individual income tax reform: The impact on Rochester residents, Rochester Business Journal
- Tax bill would make major changes for exempt organizations, Rochester Business Journal
Tax Reform Act
- Final Bill
- Conference Report (includes the final bill)