As posted by Thomson Reuters on 12/22/17 On 12/22/17, President Trump signed into law H.R. 1, the “Tax Cuts and Jobs Act,” a sweeping tax reform law that will entirely change the tax landscape. The legislation reflects the largest major tax reform in over three decades. This post, which refers to the Act by its commonly used name, “Tax Cuts and Job Act” (or simply, the “Act”) describes key business tax changes that are made under the Act.  Among the changes are a permanent reduction in the corporate tax rate to 21%, repeal of the corporate alternative minimum tax (AMT), imposition of new limits on business interest deductions, and a number of changes involving expensing and depreciation. For comprehensive summaries on other areas of the new law, see: (#244)...