2017 TAX REFORM BUSINESS LAW CHANGE HIGHLIGHTS

2017 TAX REFORM CHANGES AFFECTING BUSINESSES

Overview of TCJA Changes Affecting Businesses

For businesses, highlights of the TCJA include: (1) an increase in amounts that may be expensed under bonus depreciation
and Section 179; (2) a 21 percent flat corporate tax rate; (3) a new business deduction for sole proprietorships and
pass-through entities; and (4) the elimination of the corporate alternative minimum tax (AMT)
Corporate Tax Rates. TCJA eliminates the graduated corporate rate structure and…

Download the PDF of our full tax letter below.