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4 Ways The New Tax Cut Will Affect YOU
February 5, 2018
The general tone of the new Tax Act is pro business. Corporations have their maximum 35% tax rate reduced to 21% Since this tax rate does not apply to other entities ( LLCs, SCorps, Partnerships etc),A new Section 199A was created to allow qualified businesses to deduct 20% of taxable income. Many rules must be satisfied before this deduction is available.
