What does the new tax law mean for dealerships? Breaks, credits and a lower rate are among the pluses
Abstract: The legislation commonly known as the Tax Cuts and Jobs Act of 2017 (TCJA) creates a new playing field on which dealerships can execute future tax strategies. This article discusses benefits of the new legislation for pass-through dealerships, hefty changes for bonus depreciation and the permanent enhancement of the Sec. 179 deduction. A sidebar highlights other significant changes affecting businesses.