Describe tax cuts and jobs act

Assignment Help Accounting Basics

Reference no: EM132450442 , Length: 5

Assignment : Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act was signed on December 22, 2017 and produced some of the most significant impacts in tax law in over 30 years. In this assignment, you will use the Internet or the Strayer University Online Library website research.strayer.edu to research the tax reform changes brought about by the Tax Cuts and Job Act, analyze the impact these changes have on individual tax payers, and identify related tax planning strategies.

Write a three to five (3-5) page paper in which you:

Question 1: Summarize the purpose of the Tax Cuts and Jobs Act and explain the main objective(s) for its implementation.

Question 2: Examine three significant changes brought forth by the Tax Cuts and Jobs Act and discuss at least two advantages and/or disadvantages of each.

Question 3: Analyze the impact that each of the three significant changes has on the taxpayer as an individual and a family.

Question 4: Recommend tax planning strategies to maximize tax savings based on the three significant changes identified. Provide a rationale.

Question 5: Use at least three quality academic resources in this assignment.

Reference no: EM132450442

Questions Cloud

Compute the net income for the current year : The only entries in Retained Earnings were for net income and a dividend declaration of $16,560. Compute the net income for the current year

Evaluate the various tools o auditors to prevent fraud : Evaluate the various tools / techniques available to auditors to prevent or detect fraud. Based on your analysis, propose the most effective audit tools

Classification of living organisms : The classification of living organisms has been revised with a "three domain" system replacing the previous "five kingdom" system.

Explain why astronomers put telescopes in space : Explain why astronomers put telescopes in space. Describe in detail one space telescope that does not observe visible light and list its achievements

Describe tax cuts and jobs act : Summarize the purpose of the Tax Cuts and Jobs Act and explain the main objective(s) for its implementation.Describe Tax Cuts and Jobs Act

Refracting telescopes at major observatories today : Why are reflecting telescopes used in preference to refracting telescopes at major observatories today?

Describe tax strategies for business-owned properties : How would you explain these concepts to Don? What type of advice would you offer to him and did any changes brought about by the Tax Cuts and Jobs Act impact

Discuss five major factors that led to city bankruptcy : Assignment - Detroit: The Case of Bankruptcy of a City Government. Describe and discuss five major factors that have led to the city's bankruptcy

Discuss investments in global markets : Analyze the main factors that an organization should consider in determining the required rate of return for evaluating projects in global markets

User Account

All Pages