Tax Reform 2017
President Trump signed Congress’ comprehensive tax reform package, a WBA top priority this session. This extensive rewrite of the tax code will benefit individuals and businesses, including banks. Prior to its passage, we have witnessed many banks, including Wisconsin banks, indicate they will provide higher wages, greater community and charitable support, and other benefits as a result of the lowering of the corporate tax rate. The economic growth that will come from this reform is meaningful and exciting.
Tax Reform - What's next? Resources for your bank
WBA Executive Briefing: Tax Reform - Its Impact on You and Your Bank
This complimentary webinar on Jan. 11 delved into this topic with a panel of banking industry experts. The presentation materials are available by clicking here.
WIPFLI has issued an update entitled, "Tax Reform Proposal - Tax Cuts and Jobs Act - Action Needed before 12/31/2017" which can be found here.
Vining Sparks has distributed a piece which addresses the impact of the tax reform bill on among other things deferred tax assets, S-Corporations and the municipal market. A short article can be found here.
For those of you interested in calculating your individual income tax changes, this calculator has been one of the better tools found so far. Link
You can find the bill here.
You can find the bill's legislative explanation language here.