Taxation: Major Changes in Business
January 3, 2018 by admin@glazerlaw
Congress changed the rules of the game when it passed tax reform in December 2017. Many provisions have yet to be clarified by the IRS, but what is known is that many business owners will see tax benefits and some challenges. For most small businesses, this means blanket income deductions that may represent major tax savings. With the positive come the negative, however. Common deductions are being limited or phased out. Incentives and loopholes are being curtailed and closed.
The shifting landscape may require a hard look at how you are doing business. Does your current business structure let you take the most advantage of the new tax rules? Perhaps restructuring your business will allow you to save more money, and pay the government their fair share, and no more.
Come in for a consultation to find out how these reforms affect you and your company.
Email Peter Glazer today.