The New Tax Law -
A Boom for Business Owners
The New Tax Cuts and Jobs Act (TCJA) creates some great opportunities for business owners to keep more of their money. But to do so requires planning and execution. At Insight Accounting and CFO Services, we can guide you to your best year ever in 2018 and beyond.
Some of the changes brought on by the TCJA include:
Owners of Pass-through entities such as LLCs, partnerships, S Corps, and sole proprietorships can now deduct 20% of Qualified Business Income (QBI). But, not all income is QBI. We can show you how to maximize QBI.
Business owners can circumvent the new $10,000 deduction limitation on state and local taxes. We can show you how!
The 50% deduction on business entertainment is gone. No entertainment expenses are deductible anymore.
Maximizing your tax savings requires a thorough analysis of your complete tax picture. We will review your situation and then propose a plan with estimated savings, and our fee to implement the plan.
Contact Insight Accounting & CFO Services today!