January 4, 2018
The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax legislation since 1986. It includes a multitude of provisions that will have a major impact on businesses.
Here’s a look at some of the most significant changes. They generally apply to tax years beginning after December 31, 2017, except where noted.
Keep in mind that additional rules and limits apply to what we’ve covered here, and there are other TCJA provisions that may affect your business. Contact us for more details and to discuss what your business needs to do in light of these changes.
With the new year comes the need for small-business owners to begin thinking about filing their 2018 income tax returns. The TCJA could significantly alter your tax liability compared to previous years. So refresh yourself on its major provisions.
When you think of April 15, you probably think of the income tax return deadline. But it’s also the gift tax return deadline. Find out if you must (or should) file a 2018 gift tax return this April.
When deciding whether to lease or buy equipment or other fixed assets, there are a multitude of factors to consider, including tax implications.