Homework: Tax
The Tax Cuts and Jobs Act was signed on December 22, 2017, and produced some of the most significant impacts on tax law in over 30 years. In this homework, you will use the Internet to research the tax reform changes brought about by the Tax Cuts and Job Act, analyze the impact these changes have on individual taxpayers, and identify related tax planning strategies.
Write a 3 to 5 pages paper in which you:
i. Summarize the purpose of the Tax Cuts and Jobs Act and explain the main objective(s) for its implementation.
ii. Examine three significant changes brought forth by the Tax Cuts and Jobs Act and discuss at least two advantages and/or disadvantages of each.
iii. Analyze the impact that each of the three significant changes has on the taxpayer as an individual and a family.
iv. Recommend tax planning strategies to maximize tax savings based on the three significant changes identified. Provide a rationale.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.