On December 22, 2017, legislation put into effect the most sweeping tax since the Tax Reform Act of 1986 was signed into law. The Tax Cuts and Jobs Act of 2017 (TCJA) makes small reductions to income tax rates for most individual tax brackets. The TCJA includes significant changes for individual taxpayers, most of which take effect for 2018 and expire after 2025. Here are some of the most notable changes.
Please check out this link to a printout of some of the major changes. Tax Cuts and Jobs Act Information for Individuals
Many of these changes require a detailed explanation. Please contact us cpa@kochcpas.com and we will send you a more complete explanation of the tax changes; or for greater detailed information on any subject, personal or business.
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