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  1. Home
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  3. Economy and the TCJA

Economy and the TCJA

Posted by Robert Dutkiewicz on March 19, 2019

Robert Dutkiewicz

The year-end Federal Government economic reports were published recently and the news was promising.   Despite slowdowns elsewhere in the world, turbulent financial markets, and trade disputes with China, the economy continues to grow at a healthy pace.  The current economy grew more than 3% this year.  The expansion is now approaching 10 years; the longest in US history.  An exceptionally promising aspect has been the growth in business investment, as this is often seen as the strong groundwork for sustained growth for several more months.  Business investment grew more than 6% in the final quarter of 2018.

Many business owners give the credit for the sustained economy to the Tax Cut and Jobs Act passed in late 2017.  The centerpiece of this legislation was the tax relief provided to businesses.  Despite the complexity of many provisions of the law, especially in the international area, as well as the slow trickle of guidance coming from the Treasury, we see the notable savings for many of our business clients.  In my conversations with business owners, many are sowing their tax savings back into business reinvestment and their employees.  Though many tax professionals would have preferred that the legislation come with greater care and diligence in the details, we are grateful that we can help our clients maximize the tax benefits from this legislation.

Our team is always ready to help.

Please contact us for more information.

Robert Dutkiewicz

President

Contact Rob   |   Read Rob's bio

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Economy and the TCJA

Posted by Robert Dutkiewicz on March 19, 2019

Robert Dutkiewicz

The year-end Federal Government economic reports were published recently and the news was promising.   Despite slowdowns elsewhere in the world, turbulent financial markets, and trade disputes with China, the economy continues to grow at a healthy pace.  The current economy grew more than 3% this year.  The expansion is now approaching 10 years; the longest in US history.  An exceptionally promising aspect has been the growth in business investment, as this is often seen as the strong groundwork for sustained growth for several more months.  Business investment grew more than 6% in the final quarter of 2018.

Many business owners give the credit for the sustained economy to the Tax Cut and Jobs Act passed in late 2017.  The centerpiece of this legislation was the tax relief provided to businesses.  Despite the complexity of many provisions of the law, especially in the international area, as well as the slow trickle of guidance coming from the Treasury, we see the notable savings for many of our business clients.  In my conversations with business owners, many are sowing their tax savings back into business reinvestment and their employees.  Though many tax professionals would have preferred that the legislation come with greater care and diligence in the details, we are grateful that we can help our clients maximize the tax benefits from this legislation.

Our team is always ready to help.

Please contact us for more information.

Robert Dutkiewicz

President

Contact Rob   |   Read Rob's bio

related news

Are Foreign-Owned or Controlled Companies Eligible for a PPP 2.0 Loan?

The persistence of the COVID-19 pandemic has created challenging business conditions in Michigan and across the U.S. The second wave of infections has forced many state and local government agencies…

Read full story

PPP Loan Round 2 – Should You Apply?

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Read full story

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Selling your small business may not have been your focus in 2020 and may not be your focus in 2021. With an economy in flux and public health at the…

Read full story

State and Local Tax Planning: What You Need to Know

In a world that is becoming more global, many companies have focused their resources on dealing with new international markets. While important, it is also imperative businesses do not take…

Read full story

Welcome 2021

Happy New year! At the end of most years, I ask myself – where did the year go? But not so this year. The end simply couldn’t come quick enough.…

Read full story

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