Tax Day has come and gone, along with appreciable amounts of your money. Given the huge changes enacted under the Tax Cuts and Jobs Act of 2017, tax pros were still trying to figure out what worked (and what didn’t) right up to the filing deadline. To decode the code, we talked to top tax experts to find strategies you can implement now—that just might pay big dividends next April.
Pass-through businesses like partnerships, LLPs, and sole proprietorships are the big tax-change winners. If they meet certain standards, they get to deduct 20% of their profits before calculating taxes.