2018 Tax Reform for Businesses

Posted on: January 22nd, 2018 by Christy O'Neill No Comments

New Deduction for Business/Pass-Through Income:
A 20% tax deduction is allowed for income earned from Sole Proprietorships (Schedule C), Limited Liability Companies, Partnerships and S-Corporations. For example, if you have $50,000 in business income, you can deduct $10,000 from taxable income. The deduction applies to the first $315,000 of income and reduces the effective marginal tax rate – the rate you actually pay. In practice, the reform is expected to save between 5 – 6% in taxes.

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AccuCount, Inc. strives to provide clients with sophisticated tax and financial advice with the simple goal of minimizing tax liability with a watchful eye for compliance. We will work to develop a plan that is customized to best suit your needs.

AccuCount, Inc.
P.O. Box 1260
Tucker, GA 30085
Phone: (770)621-9122
Fax: (404)891-5743
Email: contact@accucount.net

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