Yesterday, Congress passed the tax reform bill that reduces the corporate tax rate from 35% to 21%. Tax law changes will make it into financial statements when they are signed by President Donald Trump. While the changes are not effective until 2018, they significantly impact estimates made in 2017 financial statements once the bill is signed.
The yet-to-be-completed US tax bill reducing the corporate tax rate from 35% to 20% and encouraging the repatriation of earnings is generally seen by investors as a positive development. But investors should be mindful of several resulting tax consequences that may decrease valuations and corporate earnings once the bill is enacted.
What can we learn from downloads of CFA Institute publications in 2017? Mark Harrison, CFA, sifts through the most popular CFA Institute Financial Analysts Journal articles as well as CFA Digest and In Practice summaries to uncover a few themes.
William Birdthistle provides a witty description of mutual fund design and categorizes its imperfections entertainingly, offering more palatable alternatives. This slender volume is a welcome addition to the library of the professional and retail investor alike.
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