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On December 22, 2017, President Trump signed into law the tax legislation known as the Tax Cuts and Jobs Act (the “Act”) (Topic 740).  The “Act” is one of the most-broad sweeping pieces of tax legislation to be implemented in many years.  Its impact to individuals, businesses, the economy and stock market will undoubtedly be strong.  The Act is expected to have both fiscal and economic impacts:

  • Fiscal impact is the net impact on government of a particular project including costs incurred by public entities.  This can represent how specific economic activity will affect the bottom line of a local and state government. Changes in a company’s tax obligation, such as tax exemptions, directly affect the fiscal impact and cannot be measured against pure economic impact.
  • Economic impact examines the effect of an event on the economy in a specified area. Jobs, salaries and economic output are three common types of economic impacts used to describe activity and spending.  Impact to the stock market can be seen as an economic impact.

The year began with record setting marks within the securities market.  Market activity throughout the year has seen its share of volatility partly due to the Act and partly due to other economic factors such as the trade restrictions dealt by the U.S., political turmoil, cybersecurity concerns and other global business issues.  These issue will continue to impact individuals and businesses as they begin feeling the sweeping changes brought by Topic 740. 

This course will begin with a look at stock market trends and discuss the concepts of fiscal and economic impacts.  We will then delve into the most significant changes brought on by the Act and evaluate how individuals and companies will need to be prepared into the future.

 

Learning Objectives

  • Explore 2018 stock market trends. 
  • Identify the fiscal impact of the Tax Cuts and Jobs Act (Topic 740).
  • Identify the economic impact of the Tax Cuts and Jobs Act (Topic 740).
  • Explore the impact of the Tax Cuts and Jobs Act to individuals (Topic 740).
  • Explore the impact of the Tax Cuts and Jobs Act to businesses (Topic 740).
  • Identify recent tax related Accounting Standards Updates (ASUs) and recognize their purpose.
Last updated/reviewed: November 30, 2018

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  5:47Introduction to Topic 740: Tax Cuts: Jobs Act and Stock Market Trends
  8:06Stock Market Trends
  4:11Concepts
  4:02Tax / Jobs Act (TCJA) Fiscal Effect
  10:28Tax / Jobs Act (TCJA) Economic Impact
  9:31Tax / Jobs Act (TCJA) Individual Impact
  6:35Child Tax Credit
  11:55Tax Impact Businesses
  7:43Tax ASU Update
CONTINUOUS PLAY
  1:08:23Topic 740: Tax Cuts: Jobs Act and Stock Market Trends Full Video
SUPPORTING MATERIALS
  PDFSlides: Topic 740: Tax Cuts/Jobs Act and Stock Market Trends
  PDFTopic 740: Tax Cuts/Jobs Act and Stock Market Trends Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM