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Quick Guide to 2018 Business Tax Reforms

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Advance Acceptance – a division of First Western Bank & Trust is announcing a free quick guide to 2018 business tax reforms as related to H.R.1, also known as the Tax Cuts and Jobs Act.

Eden Prairie, Minnesota (PRWEB) April 06, 2018

The quick guide reviews three key elements that business owners, executives and accountants should utilize in preparing their taxes over the coming years. As well as why this is a key time to be investing in infrastructure, equipment, adding employees and other growth activities.

For a closer look at how businesses can take advantage of the 2018 tax benefits, let's dive in and have a look at three of the most significant changes to the new tax code, the Tax Cuts and Jobs Act, and how these changes may specifically benefit your equipment-purchasing decisions.

You may be entitled to claim a larger deduction:

The Tax Cuts and Jobs Act (H.R.1) has several benefits that specifically target businesses, including the increase of the maximum deduction allowed under Section 179.

New opportunities for pass-through entities:

Before the Tax Cuts and Jobs Act was enacted, pass-through entities such as limited liability corporations (LLCs), sole proprietors and S corporations, which make up a significant portion of U.S. businesses, were effectively taxed at an individual rate.

The bonus depreciation:

One of the most important tax breaks businesses would take advantage of before the Tax Cuts and Jobs Act was deducting a percentage of the cost of qualifying assets as "bonus depreciation."

Read the quick guide and download a copy on our website by following this link.

Founded in 1972, Advance Acceptance provides national equipment finance and leasing services for leading brands across the United States. Advance Acceptance is a division of First Western Bank & Trust, of Minot, North Dakota.

Content is authored and edited by Conrad Magalis, senior marketing manager of Advance Acceptance -- First Western Bank & Trust.

For the original version on PRWeb visit: http://www.prweb.com/releases/2018/04/prweb15383322.htm

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