How To Develop Your Skill For Great Success And Happiness Including Become CPA? | Additional special tips From Admin
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House passes tax reform bill
The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205, on Thursday afternoon, with all Democrats and 13 Republicans voting no.
The legislation as passed had not been amended since its approval by the House Ways and Means Committee last week (see “House Ways and Means Approves Amended Tax Cuts and Jobs Bill,” for details).
The bill features four tax brackets for individuals, instead of the current seven; a larger standard deduction; the repeal of many itemized deductions; a reduction of the corporate income tax rate to 20%; repeal of the alternative minimum tax and, after 2023, the estate and generation-skipping taxes; and many other changes.
The Senate Finance Committee approved its own version of the Tax Cuts and Jobs Act late on Thursday, which differs significantly from the bill the House passed. The Senate is expected to consider its bill after Congress’s Thanksgiving break.
—Sally P. Schreiber (Sally.Schreiber@aicpa-cima.com) is a JofA senior editor.
Research & References of House passes tax reform bill|A&C Accounting And Tax Services
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A note for you if you pursue CPA licence, KEEP PRACTICE with the MANY WONDER HELPS I showed you. Make sure to check your works after solving simulations. If a Cashflow statement or your consolidation statement is balanced, you know you pass right after sitting for the exams. I hope my information are great and helpful. Implement them. They worked for me. Hey.... turn gray hair to black also guys. Do not forget HEALTH?
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