Summarize the purpose of the tax cuts

Assignment Help Accounting Basics

Reference no: EM132615795 , Length: 5

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 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.

Use at least three quality academic resources in this assignment. Note: Wikipedia and similar websites do not qualify as academic resources.

Reference no: EM132615795

Questions Cloud

Discuss about the leadership traits that may justify : In chapter 1, Sample describes effective leadership as thinking "gray" not being confined to one way of thinking (Sample, 2003). Think about the leadership.

Describe the type of budget plan to implement : Describe the type of budget you plan to implement in your company and outline the budgeting review steps necessary to ensure that your company

Value of the depreciation tax shield in year 2 of project : What is the value of the depreciation tax shield in Year 2 of the project?

What team leader management style : What team leader management style would be most effective in leading a team in which you were a member?

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

How would the daily profit be affected : The variable costs for manufacturing 50 bottles are $10,000. Each bottle is sold for $1,000. How would the daily profit be affected

Key issues in employee alcohol and drug-testing program : What are the key issues in an employee alcohol- and drug-testing program? Identify the types of drug testing used by employers,

Compute the Little Rock residual income : Divisional invested capital totals $9.5 million; the imputed interest rate is 12%. On the basis of this information, compute the Little Rock's residual income

Perform financial analysis including vertical analysis : Perform financial analysis including vertical, horizontal and ratio analysis. Identify two public listed companies in North America i.e. RBC vs CIBC

User Account

All Pages