The 2017 Tax Cuts and Jobs Act lowers corporate and individual tax rates, raises the standard deductions, increases the child tax credit and in time eliminates the individual health care mandate. The bill was created quickly and we anticipate there will be many revisions to close loopholes and /or clarify the rules. Below is a quick summary of the new tax bill. WHAT DID NOT CHANGE Gambling losses Above the line deductions Most Employee Fringe Benefits (although the bicycle c