Tax Laws and Consequences’ This week we covered a wide varie

Tax Laws and Consequences’ This week we covered a wide variety of deductions both FOR and FROM Adjusted Gross Income (AGI). Choose a deduction, provide a brief description of the deduction, and identify whether it is ‘FOR’ or ‘FROM’ AGI. Provide an example of the deduction you have selected and how it would affect a hypothetical tax situation. Explain if the deduction was impacted by the Tax Cuts and Jobs Act and, if so, how it was impacted. ‘Distributions/Redemptions’ There are many types of distributions a company can make: dividends, noncash property, and stock. Select a type of distribution and explain why a company would use this particular distribution and the implications it will have on the corporation, shareholders, and Earnings and Profit. Then examine and discuss the tax consequences when there is a redemption of stock.