The Tax Cuts and Jobs Act: Changing Corporation Status

        The Tax Cuts and Job Act has made people in all areas of life stop and evaluate their financial situation. This is especially true of small business owners. This shake-up of the tax code has led to some potential opportunities. You may be familiar with the new 21% top tax rate for business and “pass-through entities” that can qualify for a 20% deduction on income going through the business. But do you know how those businesses can qualify for these benefits?

         There are specific guidelines to meet, and it often involves changing incorporation status. The IRS has just released new guidelines which have adjusted this process. Now is the time to take an honest look at your business to see if it would be the right choice for you. At Anthony Sykes & Company, we will give you a free consultation to help you make the best decisions for your business.

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