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A POST-TAX REFORM PRIMER ON
U.S. TAX CREDITS

Bloomberg Tax Credits White Paper FossCo_Page_01

Whitepaper: A POST-TAX REFORM PRIMER ON U.S. TAX CREDITS

Produced By: Bloomberg Tax and Foss & Company

Length: 8 Pages

Suggested Readers: Corporate Tax Directors, Tax Strategists, CFO and Corporate Tax Advisors

Tags: renewable energy tax credits, historic preservation tax credit, low income housing tax credits, ITC, PTC, Tax Cuts and Jobs Act of 2017, tax reform

Extracted Sample Content:

A lower tax rate won’t necessarily leave corporations in the best possible situation. The tax law curtailed or eliminated many business deductions, such as putting new limits on interest deductions and a new ceiling on, and repeal of carrybacks for, net operating losses. The law also outlines repatriation deadlines on earnings long held overseas. Such factors require a discussion of various tax mitigation strategies—some either overlooked or minimally leveraged in prior years—to offset these post-reform provisions. Tax credits figure importantly in those potential strategies.

While tax deductions reduce the percentage of taxable income used to calculate the total tax bill, tax credits provide a dollar-for-dollar reduction in the amount owed. As a result, tax credits hold greater value than a dollar-equivalent tax deduction. From the investor’s perspective, therefore, exploiting a tax credit will in many cases be the more effective means of boosting the return on investment from a given asset. Tax credit investments don’t just provide a dollar-for-dollar reduction in offsetting tax liabilities. They can provide a steady return on investment, over a predictable period of time…..

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