Tax Cuts and Jobs Act: Business and Cost Recovery - Moving Targets with All New Bulls-Eyes
Tuesday, December 3, 2019
The new tax legislation is popping at the seams with new privileges and challenges. Are you a winner or a loser? It depends on who you are. The Tax Cuts Jobs Act line-by-line, provision-by-provision, imposes surprising results, both good and bad. Many of the areas change do so very deeply and meaningfully.
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*How many more new elections and forms can there be?
*Tax accounting, inventory and UNICAP musical chairs - A very big deal
*Interest expense deduction assaulted for some - Can you elect out? At what cost?
*Effective dates and strategies are all over the place
*Best moves to make on 2017 and later tax returns
*What about all those tax breaks taken away (tears) - What to do now?
*Planning for the short term and long haul to save the most
*Effect on and interaction with state income taxes
*Are you better off after Tax Reform or not?
*Grab it now while it's good