On December 22, President Trump signed into law the “Tax Cuts and Jobs Act”, a sweeping tax reform law that will entirely change the tax landscape. This article describes key business tax changes that are made under the Act.
Obviously many of these law changes may not have a direct effect on your business or your current business decisions. However, many of these law changes may affect vendors and/or customers whom you are currently conducting business with which could affect their decision making processes. Hence, this is a prime reason that you should be aware of these new and updated tax laws.
As always, please contact our office if you wish to discuss any of these changes and how they may directly affect your business.
Dean R. Holland, CPA, MSA