Today was the day. At long last, the first domino that may eventually leave to a thorough overhaul of our tax law was toppled by the House of Representatives with the release of the Tax Cuts and Jobs Act.
For members of the tax-paying public, it can be tough to make sense of it all. When searching for someone to explain the potential changes in terms anyone can understand, options are scarce. Of course, you could simply wait around for the White House’s afternoon presser and listen to Sarah Huckabee Sanders correlate the corporate tax cuts with the exploits of “a man from Nantucket.”
Or, you could just keep reading here. Because what follows is a 30,000 foot view of the new bill, and I say that not because it’s a brief and top-level summary, but rather because I’m actually typing on a plane from Aspen to NYC.
Authored by Tony Nitti, Withum Partner and writer for Forbes.com.