While the Tax Cut and Jobs Act (the Act) will simplify taxes for many Americans, many business and tax-exempt entities will find the computation of taxable income even more complex than in the past. Baker Tilly’s tax-exempt organization professionals provide insight into the numerous direct changes to tax-exempt entity taxation and highlight a few of the provisions not included in the Act that may be included in future legislation.
The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.
For more information on this topic, or to learn how Baker Tilly not-for-profit specialists can help, contact our team.