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Week 8 Assignment – Tax Cuts and Jobs Act
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.
Overview
In this assignment, you will use your textbook, the Internet, and Strayer Library to research the tax reform changes brought about by the Tax Cuts and Jobs Act and, analyze the impact these changes have on individual taxpayers and identify related tax planning strategies.
Instructions
Write a 3–5 page paper in which you:
Summarize the purpose of the Tax Cuts and Jobs Act and explain the main objective(s) for its implementation.
Examine three significant changes brought forth by the Tax Cuts and Jobs Act and discuss at least two advantages and/or disadvantages of each.
Analyze the impact that each of the three significant changes has on the taxpayer as an individual and a family.
Recommend tax planning strategies to maximize tax savings based on the three significant changes identified. Provide a rationale.
Use the Strayer Library to find at least three academic resources.
Internet websites that include a .gov or .org extension qualify as quality academic resources.
Note: Wikipedia and similar websites are not considered quality references.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment:
Analyze the impact of the Tax Cuts and Jobs Act on personal tax revenues, liabilities, deductions and exemptions

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