by Michael J. Devereux II, CPA, CMP, partner Mueller Prost Against the odds, the Republican-led Congress and President Trump were able to pass the Tax Reform & Jobs Act of 2017 (The "Act"). As such, most plastics processors will see a drop in their tax bills, beginning in 2018. Many of the provisions plastics processors rely upon to compute their federal tax liability … [Read more...] about Tax Reform Implications for the Plastics Sector
Financials
Election Results Create Path for Tax Changes
by Michael J. Devereux II, CPA, CMP, partner Mueller Prost With Donald Trump winning the White House and Republicans maintaining majorities in both the US House of Representatives and US Senate, the prospect for tax reform and forthcoming business-friendly Department of the Treasury regulations is significant. While both parties agree on the need for tax reform, their … [Read more...] about Election Results Create Path for Tax Changes
Don’t Forget About State Income Tax Incentives
by Michael J. Devereux, CPA, CMP, partner Mueller Prost PC If you aren't paying attention to your state tax return, you may be paying too much. The federal income tax return usually gets the most attention. This may be a result of confusion, frustration or both, but once a taxpayer reviews the federal return, many people tend to skim or even skip over the state returns, … [Read more...] about Don’t Forget About State Income Tax Incentives
Tax Legislation Update for Plastics Processors
by Michael J. Devereux II, CPA, CMP, partner and director of plastics industry services Mueller Prost When it came to passing tax legislation late in the calendar year, Congress did not disappoint this past holiday season. As in past years, Congress passed a massive tax bill in December. This practice has become quite common – allowing select provisions in the Internal … [Read more...] about Tax Legislation Update for Plastics Processors
Year-End Tax Planning for Plastics Processors
by Michael J. Devereux II, CPA, CMP, Mueller Prost With year-end approaching, plastics processors likely will benefit from year-end tax planning. With income taxes on the rise and guidance published daily, processors will need to consider a number of different available options to ensure they are (legally) minimizing their income tax burden. First, income tax planning is … [Read more...] about Year-End Tax Planning for Plastics Processors