Tax Cuts and Jobs Act offers favorable tax breaks for businesses
Signed into law on December 22, the Tax Cuts and Jobs Act (TCJA) contains a treasure trove of tax breaks for businesses. Overall, most companies and business owners will come out ahead under the new tax law; however, there are a number of tax breaks that were eliminated or reduced to make room for other beneficial revisions. Here are the most important changes in the new law that will affect businesses and their owners.