The IRS offers small business leaders helpful information on taxes.
Last year’s Tax Cuts and Jobs Act may have helped bolster revenue for many businesses, but understanding tax reform can be challenging.
Many small business owners may be able to take advantage of new 20% tax deductions on their qualified business income. To learn more, go to https://www.irs.gov/tax-reform.
The agency also provides detailed information on technical aspects of the tax law. The Tax Reform Guidance page provides a list of guides.
The drop-down articles provide some easy links to information and the Frequently Asked Questions answers common tax questions: https://www.irs.gov/newsroom/tax-reform-resources.
Publication 15, Circular E, Employer’s Tax Guide provides a more in-depth overview of employers’ tax responsibilities.
Tax Reform News has links to news articles and fact sheets about tax laws.
Other details may apply, and you can find more information on the IRS website.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
Tip adapted from the IRS.gov[10]
