The Tax Cuts and Jobs Act (TCJA) makes small reductions to income tax rates for most individual tax brackets and substantially reduces the income tax rate for corporations. It also provides a large new tax deduction for owners of pass-through entities and significantly increases exemptions for the individual alternative minimum tax (AMT) and the estate tax.
This guide provides an overview of the most consequential changes under the TCJA and other key tax provisions you need to be aware of. It offers a variety of strategies for minimizing your taxes in the new tax environment. Please contact your BKHM tax professional if you have questions or email us at firstname.lastname@example.org. Click Here to view the Tax Planning Guide.