The U.S. corporate tax rate has historically been among the highest in the world. Years ago, Congress created the domestic production activities deduction (DPAD) primarily to help level the playing field between American manufacturers and foreign competitors that operate in countries with lower tax rates. Prior to the Tax Jobs and Cuts Act (TCJA), C… Continue reading
Monthly Archives: April 2018
Good Reasons to File Extensions for 2017 Returns
The countdown to Tax Day has begun! The deadline for filing your 2017 individual income tax return this year is Tuesday, April 17, 2018. Drawbacks to a Filing Extension Before you file for an extension, be aware of three potential pitfalls: 1. Underpayment penalties. You still must pay your estimated tax liability for 2017 by… Continue reading
