Small business owners will be some of the taxpayers most affected by the tax law changes enacted for 2018. How will these new rules affect your business? Here are 5 key ways.
Business Tax Rates. Whether your business is a pass-through entity (generally a sole proprietorship, partnership or many LLCs) or a corporation, you will likely see lower tax rates. Individual tax rates have been adjusted to new tax brackets that should result in many people experiencing a lower overall tax burden.