In the first video of this series, we looked at several different perspectives on the international provisions of the new tax reform law. For this second installment, Allen and Pete will offer a bird’s eye view of the key provisions of tax reform.
As previously mentioned, the “Tax Cuts and Jobs Act” (TCJA) was signed by the President and put into law on December 22, 2017. This act contained a number of changes in how businesses here in the U.S. with foreign operations will be taxed. What are those changes?
In brief, under the legislation, taxes are estimated to decrease by $1.456 trillion over 10 years. Before we can further discuss the international provisions of tax reform, this second video in the series will look at the key individual and domestic business provisions as they have set a new baseline for competitiveness within the United States.
Please contact Meaden & Moore if you have any questions or would like to discuss how TCJA affects international tax further.