Source: SOUTHEAST FARM PRESS, 9/17/18


The House Ways and Means Committee approved a bill Sept. 13, 2018, that would make permanent several tax reform provisions that are set to expire after 2025. The Protecting Family and Small Business Tax Cuts Act of 2018 (H.R. 6760) addresses bonus depreciation and the estate tax, among other tax provisions.  The Tax Cuts and Jobs Act, passed in 2017, reduced taxes for all businesses, but only the tax cuts for incorporated businesses operated as C corporations are permanent.

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