2017 TAX REFORM BUSINESS LAW CHANGE HIGHLIGHTS

27 Dec 2017 | Under Tax News | Posted by | 0 Comments

2017 TAX REFORM CHANGES AFFECTING BUSINESSES

Overview of TCJA Changes Affecting Businesses

For businesses, highlights of the TCJA include: (1) an increase in amounts that may be expensed under bonus depreciation
and Section 179; (2) a 21 percent flat corporate tax rate; (3) a new business deduction for sole proprietorships and
pass-through entities; and (4) the elimination of the corporate alternative minimum tax (AMT)
Corporate Tax Rates. TCJA eliminates the graduated corporate rate structure and…

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