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2018 Tax Reform Law has Benefits for Some Small Businesses

Source: cpapracticeadvisor.com - Jan 3, 2018

The monumental new tax law signed late in 2017 – the Tax Cuts and Jobs Act (TCJA) – has been hailed as a boon for big business. But the TCJA also benefits many small businesses while presenting new obstacles. In general, the revised rules for businesses take effect in 2018 and are permanent, unlike most changes for individuals. Following are the key provisions likely to affect small businesses.

[This article focuses on the effects of the new tax reform law on businesses. For a look at how it impacts individual taxpayers, read this article.]

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Category: General Business