How the The Tax Cuts and Jobs Act Will Affect Your Business

With the sweeping changes in the Tax Cuts and Jobs Act, potential savings won’t be seen by tactical retailers until the tax bill for 2018 comes due.
How the The Tax Cuts and Jobs Act Will Affect Your Business

Are you ready for tax “reform?”

Thanks to the recently passed Tax Cuts and Jobs Act (TCJA), the tax rate for incorporated shooting sports retailers will be reduced from its current 35 percent to 21 percent for the 2018 tax year and thereafter. Although the business tax cuts are, for the most part, permanent, the tax cuts for individuals are only temporary, expiring in 2026.

Unfortunately, while regular, “C” corporations will be taxed at a flat 21 percent tax rate, the...

Please login or register to view Tactical Retailer articles. It's free, fast and easy!


Discussion

Comments on this site are submitted by users and are not endorsed by nor do they reflect the views or opinions of COLE Publishing, Inc. Comments are moderated before being posted.