|Join the Morgantown Chamber of Commerce and Schneider Downs as we discuss the recent changes in the Tax Cuts and Jobs Act. Mark DiPietrantonio and Chris McElroy, tax shareholders at Schneider Downs, will provide an in-depth look at the Tax Cuts and Jobs Act, the most sweeping set of changes to tax law in more than 30 years.
- A temporary 20% deduction for "Qualified Business Income;"
- A temporary limitation on the deductibility of "Excess Business Losses;"
- A permanent limitation in the deductibility of business interest expense;
- The temporary elimination of, or reduction of, state and local taxes, mortgage and home equity interest, miscellaneous itemized, and personal exemptions deductions by individuals;
- A temporary reduction in individual tax rates;
- Permanent reduction in corporate tax rates;
- Permanent new taxes levied against tax-exempt organizations; and
- Fundamental tax changes to taxpayers conducting business globally.
Tax Reform Guide