The Tax Cuts and Jobs Act (TCJA) has brought on major tax law change that impacts small businesses. The TCJA enhanced some tax breaks, repealed others and modified several deductions that are likely to affect a majority of business owners. Here’s one change.
Changes to transportation and commuting
Employers can no longer deduct the cost of qualified employee transportation fringe benefits unless it’s necessary for the safety of the employee.
If you have any questions, visit with one of our Tax experts.
Published: 9-13-18
