While most companies are preparing their taxes for 2017, owners need to also now understand how small business taxes are changing in 2018. While many of the details of the “Tax Cut and Jobs Act of 2017” still need to be interpreted, here is where to start:
Changes in Small Business Taxes In 2018
1. Owners May Get Lower Taxes
Most small businesses are structured as a “pass-through” entities like “S” and “LLC” corporations. That means, like in the past, any income generated from these companies will be taxed at the owner’s individual tax rates.
