Leander, Texas – October 11, 2018 Steve Phillips addressed the Leander Chamber of Commerce – Microgroup Kickoff meeting on Thursday, October 11. He provided a short summary of key small business tax reform provisions that have been in effect for the 2018 tax year. These provisions were enacted in the…

The Tax Cuts & Jobs Act of 2017 eliminated entertainment deductions as a business expense (box seats at the football game, theatre, etc.).  There was some (warranted) fear that this elimination extended to the much-revered regular business meal where a taxpayer hosted a client or prospect. Finally, and just recently,…

The Tax Cuts and Jobs Act of 2017 reduced the maximum corporate income tax rate to 21% for regular “C” corporations.  The marginal maximum tax rate for individuals was lowered, but not quite so drastically, to 37%.  Many believe that the lower corporate tax rate would influence taxpayers to convert…