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Tax Cuts And Jobs Act

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How will the Tax Cuts and Jobs Act affect your small business? Get the scoop in this Balboa Capital infographic. We took the time to gather up all the information that you need to know.

Veröffentlicht in: Business
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Tax Cuts And Jobs Act

  1. 1. The Tax Cuts� and Jobs Act Offering Bountiful Deductions for Small Business Owners Year-Round. 21%The permanent corporate income tax rate, replacing the 35% maximum tax rate. 20%The deduction amount of qualified business income from certain pass-through businesses. 30%The cap on business interest deduction� before EBITDA. Fresh Picks for a� Healthy Bottom Line. 100% Bonus depreciation limit on qualifying business equipment through 2022. $1 million The new Section 179�tax deduction limit, up from $500,000 last year. $2.5 Million Spending cap on qualifying equipment purchases. Used Qualifying used equipment is now eligible for� bonus depreciation. Equipment Plus...100% bonus depreciation applies to qualifying equipment placed into service on or after September 27, 2017. $10,000 The depreciation limit on passenger automobiles used for business in year one $16,000 In year two $9,600 In year three $5,760 In year four and beyond Cash Method Of Accounting The $5 million average gross receipts threshold increased to $25 million Alternative Minimum Tax The corporate alternative minimum tax (AMT) was repealed Consider weeding these expenses out. Several business income tax deductions were eliminated. Business Entertainment Bicycle� Programs Local Lobbying Expenses Sources: CPA Journal, TaxFoundation.org, CPA Practice Advisor, IRS.gov, thebalance.com This infographic was created by Balboa Capital, a technology-driven financing company that provides business owners with fast, hassle-free solutions to fuel their growth and success. Visit www.balboacapital.com today.