IRS Resources for Business Owners

IRS Resources for Business Owners

The IRS is reaching out with a small business initiative highlighting several tax law changes affecting business owners. Below are key items of interest. Some of the topics include: changes in depreciation/expensing, accounting methods, and the blended corporate tax rate.  AIV has been asked to share these resources with our members.

News Release available on the Tax Reform News page:

New tax law allows small businesses to expense more, expands bonus depreciation

Updated fact sheet:

New rules and limitations for depreciation and expensing under the Tax Cuts and Jobs Act

 Tax Reform Tax Tips available on the Tax Reform Resources page, including:

Tax Reform changes depreciation limits on luxury automobiles

After tax reform, many corporations will pay blended tax rate

Here’s how tax reform changed accounting methods for small businesses

Articles posted to the  Tax Reform Resources page, including:

New tax law changes business expensing

New tax law offers 100 percent, first-year ‘bonus’ depreciation