The new US tax law, explained with cereal
We’re a few Crunch Berries short, friends.
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There’s a new tax law in town. It passed without a single vote from Democrats in the House or the Senate, and it’s a huge windfall for the richest Americans, including President Donald Trump.
But Republicans didn’t just want any new tax law, they wanted to reform the tax code. To give the richest Americans a big tax cut while still funding the government’s essential functions, like building roads and flying fighter jets, the GOP needed to find tax revenue somewhere else. To do that, they had to start taxing income that used to be tax-free, by closing loopholes and eliminating deductions.
If all of that sounds boring and confusing, fear not. We’ve broken it down in this video. Just don’t blame us if it leaves you craving cereal.
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2018 Tax Changes For Businesses (2018 Business Tax Rules)2018 Business Tax Rules Explained!(Tax Cuts and Jobs Act 2018) 2018 Income Tax Changes for Businesses explained! (2018 Federal Income Tax Rules) . VERY DETAILED AND EASY TO FOLLOW….
Learn about Donald Trump’s new tax laws. Tax Reform 2018. 2018 Federal Income Tax Rules! Downloadable notes included below. The Tax Cuts and Jobs Act bill brings numerous new changes to the world of taxes. In this video you learn how these changes may impact your personal tax return and your business.
You can follow the links here to download the spreadsheet: https://www.dropbox.com/s/kxp38y9kw0zejgc/2018%20business%20tax%20updates.xlsx?dl=0
Video Outline and Time Stamps so you can quickly jump to any topic:
• How to download business tax law updates spreadsheet – 0:37
• Business filing due dates – 2:12
• 2018 Corporate Tax Rates – 2:54
• Depreciation updates 2018 – 4:12
• Standard mileage rates- 6:25
• Meals and Entertainment and Fringe benefit rules – 6:40
• Excessive business loss limitation (IRC 461) – 9:33
• Net Operating Loss rules for 2018 – 10:24
• Business Interest Deduction Limitations IRC 163(j) – 11:09
• Business Research Expense Rules 2018 – 12:10
• Like-Kind Exchanges (1031 Rules for 2018) – 12:45
• Section 199A Deduction – 13:54
• Hobby Loss Rules 2018 – 18:33
• Minimum tax credit refundable for corporations – 19:33
• Important links – 20:08
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All of the information in this video is presented for educational purposes only and should not be taken as financial, tax, or investing advice by any means. I am not a financial adviser. Although I am a CPA I cannot advise someone for tax purposes without knowing their complete tax situation.
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