Tax Cuts & Jobs Act (“TCJA”) Summary  

Course Description:

The Tax cuts & Jon Act (“TCJA”) was approved by congress on December 22, 2017 and signed by President Trump on December 22, 2017. The Act impacts virtually every individual and business in a way not seen in over 30 years. With most provisions effective 2018, it lowers the individual and corporate tax rates, repeals numerous tax credits and deductions, enhances the child tax credit, boosts business expensing, and impacts the Affordable Care Act (ACA) by effectively repealing the individual mandate.

This course is an overview providing reference to selected individual, education, business, retirement, insurance, international and estate tax provisions enacted or indexed for inflation by the TCJA. The resulting major tax changes carry special meaning to the tax practitioner and return preparer. The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes enacted by TCJA

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Apply changes imposed by the Tax Cuts & Jobs Act (TCJA) relating to individual income taxes by identifying, modifications to tax rates & the personal exemptions. AMT exemptions. Changes to child tax credits.
• Point out key TCJA business provisions, including new corporate tax rates, expanded 179 expensing, denial of certain entertainment expense, and business Credit
• Recognize TCJA changes to insurance taxation, tax treatment of excess of compensation, deferred foreign income provisions, and exempt organization and international taxation