Changes in Tax Cuts and Jobs Act of 2017

Tax Cuts and Jobs Act of 2017
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The tax code sets out unique guidelines, rules, and other tax laws imposed by official tax authorities in the U.S. The congressional and presidential leadership changes mean there could be new operational rules for taxpayers and partnerships, possibly a shift in some aspects of this tax code. The changes result in little representation in opportunities, forcing the affected companies to relocate. They could also increase the borrowing cost for affected organizations.
Deductibility on business interest, as discussed under section 163(j) and Internal Revenue Code (IRC), will affect interest expenses on a business. The business interest may be deducted yearly, outside its interest income (Simms et al., 2018). The regulated taxable income and financing interest floor plan will be impacted the least. An example is motor vehicle business merchants whose interest should be paid on buying the vehicle ready for lease or sale. However, the requirement is that the car must establish an underlying debt. Examples of such automobiles include farm machinery, boats, and vehicles designed for transporting property and people from one place to another on public roads.
Companies might choose to operate outside the U.S. to avoid Internal Revenue Code (IRC), By doing so, there would be limited opportunities, and they might collapse in due time because of Action 4 of OECD/ G20, whose function is to mismatch the gaps and exploit different company's tax systems (Wahl 2015). Similarly, operating outside the U.S. limits interest expenses by preventing income shifts for private and domestic business entities.
Tax Cuts and Jobs Act (TCJA) h...