New Federal Tax Law Changes

Posted on 2/15/2018 by Davis and Hodgdon

New Federal Tax Law Changes

On December 22, 2017 President Trump signed H.R. 1, known as the Tax Cuts and Jobs Act, into law making widespread changes to the Internal Revenue Code. These changes went into effect January 1, 2018, and it is no overstatement to say that this mammoth tax bill will have a significant impact on virtually every business and individual.

ACEDC member Davis & Hodgdon Associates, CPAs has assembled some objective information about this tax law as it pertains to both individual taxpayers and businesses. Remember that this information is shared as a service to D&H clients, business associates and friends. Recipients should not act on the information presented without seeking prior professional advice.

For information on the impact of the new tax law for both individuals and businesses, click here.