Suppose you are working at a CPA firm that a group of Congressmen has recently hired to study and analyze the Tax Cuts and Jobs Act $($TCJA$).$ You have been tasked with preparing preliminary research on the TCJA and have been asked to share your initial findings with the rest of your firm's team.To complete this assignment, you will need to study the Act and utilize the knowledge and experience you've gained in this course and your research or professional experience related to the current economic conditions$\mathrm{.}1.$ Prepare a summary of the effects of the TCJA on the following entity types: S Corp, C Corp, LLC$,$ and Partnership as it relates to corporate taxation$2.$ Select one of the entity types described above and establish one tax planning advantage and one tax planning disadvantage of the TCJA for this entity type$3.$ Design a tax planning strategy in response to the TCJA for the entity type you selected