Soar to Success September 2018

T his is the 7th article in a series of 8 which looks at some of the tax law changes that took effect on January 1st , 2018. Nearly every taxpayer will be effected one way or another by these tax law changes and, whether you believe this is tax reform or tax deform, you should have some understanding of how the laws have changed and how they’ll effect you. In this article, I’m looking at a few of the tax law changes effecting businesses of all sizes. And one of the most disappointing changes, in my opinion, is the elimination of the domestic production activities deduction for businesses. 5HIHUUHG WR DV '3$' LQ WKH WD[ ZRUOG this deduction was available to certain 2017 Tax Reform: A Plain English discussion on the Tax Cuts and Jobs Act – Part 7 By Tina Moe, CPA SOAR TO SUCCESS 6HSWHPEHU &RUH %XVLQHVV 6WUDWHJLHV