Top

Trump’s New Tax Law Contains Important Implications for Employers

February 27, 2018

Via: HR Hero
Category:

On December 22, 2017, President Donald Trump signed the highly touted Tax Cuts and Jobs Act (TCJA) into law. Among other things, the TCJA is intended to reduce tax rates for businesses and individuals and simplify income tax preparation by increasing the standard deduction and family tax credits, reducing the alternative minimum tax for individuals, and eliminating it for corporations.

However, the new law also limits the tax deductions businesses can claim for certain employee benefits and may change the way employers settle legal claims in the future. Below is a summary of the provisions relevant to employers.

Read More on HR Hero