As the 2019 tax season gets underway, tax professionals are working with a complex set of changes to the  tax code as a result of the The Tax Cuts and Jobs Act. Amidst the many uncertainties of the new regulations, specific changes afford small business owners some important planning opportunities.  

The tax reform bill, H.R 1, known as the Tax Cuts and Jobs Act which enacted sweeping changes to the Internal Revenue Code, contains numerous changes that will affect businesses large and small. The new tax law is complex; most business owners will look to their accountants and tax professionals for explanations of the changes.