Businesses’ bottom lines to benefit from new tax law

Description

Abstract: The December 2017 passage of the largest overhaul of the federal income tax system since 1986 promises to bring many U.S. businesses some dramatic savings. Much has been made of the savings for corporations. The TCJA doesn’t overlook businesses that operate as partnerships, limited liability companies, S corporations and sole proprietorships, though. This article reviews several provisions of the new tax law and explains how it will affect businesses going forward.