Overview of Tax Cuts and Job Act (TCJA) Changes Affecting Businesses

The following is a summary of some of the more significant changes under the new tax law that may affect your business. Reduction in Corporate Tax Rate and Dividends Received Deduction TCJA eliminates the graduated corporate tax rate structure and instead taxes corporate taxable income at 21 percent. It also eliminates the special tax rate […]

Overview of Tax Cuts and Job Act (TCJA) Changes Affecting Individuals

The following is a brief overview of TCJA’s key changes (and non-changes) affecting individuals. Tax Rates and Brackets TCJA provides seven tax brackets, with most rates being two to three points lower than the ones under present law (the top rate goes from 39.6 percent to 37 percent). The top rate kicks in at $600,000 […]