The 2017 Tax Cuts and Jobs Act made significant changes with respect to the deductibility of business meal and entertainment expenses. One of the biggest changes is the deductibility of entertainment expenses.
The Internal Revenue Bulletin 2018-10 was released March 5, and the Internal Revenue Service (IRS) described changes to the limit on health savings accounts (HSAs) as prescribed by the Tax Cuts and Jobs Act of 2017.
Our team has prepared a summary of key provisions from the Tax Cuts and Jobs Act (“Act”) which became law December 22, 2017.
Please click HERE to view those provisions.
Even though the specter of tax reform is looming large and it appears that a bill will be passed before year-end, most of the new provisions will not be effective until 2018.