Impact of Recent Tax Reform on Small Businesses

The recent tax reform has significant implications for small businesses, including changes to tax rates and deductions. Small business owners must adapt to these changes to optimize their tax strategies and ensure compliance. Understanding the nuances of the new tax code is essential for financial planning.

“Tax reform can be a double-edged sword for small businesses.”

Key Changes

• Lower tax rates for small businesses.
• New deduction limits.
• Increased reporting requirements.