An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020.
Tax Limits for Businesses Increased in 2020
Tag: qualified business income
Which Entity Type is Best for Me?
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%.