The New Tax Act Has LOTS in Store for Many Including…
The New Tax Act Has LOTS in Store for Many Including…
Tax bracket reductions for individuals, S Corporations, LLC’s & C Corporations
I recommend all taxpayers do tax planning for 2018 as soon as they complete their 2017 tax returns.
Some of the major changes for individual taxpayers include no more exemptions, increased standard deductions and limits on deductability of state income taxes and property taxes.
Some of the major changes for business owners who have flow through entities (S Corporations and LLC’s) include deduction for the net income portion of your business profit as listed on the K-1 if you qualify based upon your income levels and your industry type.
Be sure you get every legal deduction; after all it is yours!
