What small businesses need to know before filing tax returns
from By Seth Sandronsky
What does the Tax Cuts and Jobs Act of 2017, perhaps President Trump’s signature legislative achievement, mean for businesses? We turn to the Urban-Brookings Tax Policy Center (TPC), located in Washington, D.C. "TCJA allowed businesses to deduct the full cost of qualified new investments in the year those investments are made (referred to as 100 percent bonus depreciation or 'full expensing') for five years," according to the TPC. But this is not a permanent change to the tax code.
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