Soar to Success September 2018

businesses with income generated from TXDOLI\LQJ DFWLYLWLHV 3URSHUW\ WKDW ZDV manufactured, produced, grown, or extracted within the US, construction activities performed in the US as well as certain engineering or architectural VHUYLFHV TXDOLĆHG IRU WKH GHGXFWLRQ 7KLV one will be felt and missed by many of my small business clients who previously TXDOLĆHG IRU WKLV GHGXFWLRQ Another popular business deduction that was cut is the entertainment expense. I’m pretty sure this one is not going to be a widely supported repeal. Business related meals are still deductible and subject to the 50% limitation and now includes business meals provided by an employer on the premises for employees which was previously 100% deductible. But, beginning in 2026 this too will be disallowed all together. If you think this sounds a little stingy, I think you’re in good company. If this information has been helpful and you want to learn more, check back here for more articles covering the new tax laws. You can also visit my website at actservices-inc.com . SOAR TO SUCCESS 6HSWHPEHU &RUH %XVLQHVV 6WUDWHJLHV