2018 Business Tax Changes | Karla Dennis & Associates

2018 Business Tax Changes | Karla Dennis & Associates

2018 Business Tax Changes  The Tax Cuts and Jobs Act (TCJA)  has some new provisions that dramatically affect businesses and individuals. If you are a 1099 employee, or own a small business, the 2018 business tax changes is a big win. Here are some of the notable 2018 small business tax changes. Corporate Tax Cuts  Corporations will see a big drop in their rate from 35% to 21%. These changes alone are estimated to increase average family income by more than $4,000. The idea behind the $4,000 estimate is this: Corporations will use their new tax savings to invest more in their companies, create more jobs and pay higher wages. An increase of family income of $4,000 are estimated from these changes. read...

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