The Tax Cuts and Jobs Act (TCJA) of 2017 changed several tax items affecting businesses, including deductions, depreciation, expensing, tax credits, and more. A side-by-side comparison of the 2017 tax code vs the changes brought on by the TCJA offers a clearer picture for business owners when preparing business taxes.
We’ve compiled the IRS’ comparison chart into a simple PDF file you can download, print, and share. This guide compares 19 tax changes to prior tax law. Changes include limits on deductions for meals and entertainment, as well as limits on deductions for business interest expenses
Individuals and businesses looking to understand the TCJA and how it impacts 2018 filings can contact our team of experts. Heffler offers a full range of services through which we provide forward-thinking guidance and support across a wide array of industries.