Businesses and employers need to take note of the new rules as they plan their 2018 meals and entertainment budgets. The Tax Cut and Jobs Act of 2017 (TCJA) places stricter limits on what businesses can deduct meals and entertainment expenses for clients, or its employees.
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The Tax Cuts and Jobs Act (TCJA) offers many tax breaks for businesses. Overall, most companies and business owners will come out ahead under the new tax law, but there are a number of tax breaks that were eliminated or reduced. Here are the most important changes in the new law that will affect businesses and their owners.
While many of the new law’s provisions affect businesses, the reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act” (TCJA), also includes significant changes for individual taxpayers, most of which take effect for 2018 and expire after 2025. Here are some of the most notable changes.
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