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Business owners, this is your chance to save big. The new tax plan recently passed in the house and supported by Donald Trump is packed with powerful savings for businesses. The qualified business income deduction is increasing from 20% to 23%, keeping more of your hard-earned profits. 100% bonus depreciation is back by a work truck, equipment or tech and write it all off in the first year. Section 179 Expensing Limit is increasing to $2.5 million so you can deduct major investments in your business. Lower tax brackets from the Tax Cuts and Jobs Act are extended bringing more long-term savings. The Salt deduction cap is rising from $10,000 to $40,000. Big help if you're in a high tax state. Tips and certain overtime pay could now be tax-free, especially great for service industry businesses. Seniors gain an extra $4,000 standard deduction. R&D Expensing is restored, so innovative businesses can write off research costs right away. Most provisions have passed the House and are pending in the Senate. Stay tuned for updates. Want to make the most of these changes? Follow us for expert tax strategies built for business owners like you.

Business owners, this is your chance to save big. The new tax plan recently passed in the house and supported by Donald Trump is packed with powerful savings f…