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Gaining, Losing, Avoiding Audits – Small Biz Tax Changes NFIB Reviewed – Understanding Tax Code Changes

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In the introduction from the National Federation of Independent Businesses (NFIB) power point found below, it said the following on November 6, 2019.

 

QuoteMarkManufacturedHomeLivingNewsNFIB Small Business Legal Center

  • We are the voice for small business in the courts and the legal resource for small business owners nationwide.
  • While the information provided in this presentation is intended to be accurate, it should not be considered legal advice. The Legal Center cannot be held responsible for any errors or omissions.

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The presentation stresses that the information is on federal tax law, not state or local income taxes.

Among the topics covered?

  • Major changes of the Tax Cuts and Jobs Act.
    • Big changes to deductions.
    • How to avoid audits.
    • Alternative Minimum Tax.

IncreasedExpensingLimits2017TaxCutsJobsActNFIBManufacturedHomeProNews

But there is more.

NearlyDoubledStandardDeductionNFIB2017TaxCutsJobsActManufacturedHomeProNews

To see their full power-point presentation see the NFIB download at this link here.

As a related footnote, MHProNews has previously reported that even with the 2017 Tax Cuts and Jobs Act (TCJA) has resulted in an increase in federal tax revenues.

FedsCollectRecordTaxesOct2018CNSManufacturedHOusingIndustryDailyBusinessNEwsMHpronews-511x430

There is work to do on the budget, which of course requires bipartisan effort at this time.

MedianHouseholdIncomeGainsBushObamaTrumpCensusBureauFoxBusinessManufacturedHomeProNews
The data supports the notion that median household income has been rising more dramatically under the Trump Administration policies than that of the two prior administrations.
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That’s your second installment today of “News through the lens of manufactured homes and factory built housing,” © your runaway #1 biggest and most-read industry news source, where “We Provide, You Decide.” © (News, fact-checks, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. Connect with us on LinkedIn here and here.

 

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