7 Changes in the Tax Law That All Associations Should Be Aware Of

7 Changes in the Tax Law That All Associations Should Be Aware Of

Tax Law Changes March 12, 2018 By: Lisa W. Heller

The new tax law not only lowers the corporate tax rate but also has implications for business losses, fringe benefits, executive compensation, and local lobbying expenses. Here are seven key areas of the law that may affect associations.

On December 22, 2017, H.R. 1, also known as the Tax Cuts and Jobs Act, was signed into law. This new tax law provides sweeping changes that potentially impact all U.S. taxpayers, including associations and other tax-exempt organizations. For the most part, these changes are effective for tax years beginning after December 31, 2017. Here are the top seven changes that impact associations:...