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The enactment of historic Tax Reform legislation – The Tax Cuts & Jobs Act (TCJA) – was a huge victory for the Association for Print Technologies. The new tax law includes:

  • 100% Expensing for five years for capital investment, phased out thereafter
  • Section 179 Small Business Expensing increased to $1M, phased out starting at $2.5M
  • Corporate tax rate cut from 35% to 21%
  • Reduction in the tax rate for “Pass-through” business income, with some restrictions
  • Repeal of the Corporate Alternative Minimum Tax (AMT)
  • Interest deductibility retained, but with restrictions
  • R&D Tax Credit preserved
  • Advertising Expense Deduction preserved
  • Cash Accounting extended to more small businesses, with up to $25M in income
  • Adoption of a Territorial Tax System
  • Estate, Gift and Generation Skipping Tax exemptions doubled from $5.6 million to $11.2 million per individual, and $22.4 million per couple, effective 2018, facilitating the inter-generational transfer of assets of a significant number of small businesses.