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Sidney Kess

The Tax Cuts and Jobs Act (TCJA) made many favorable tax changes for businesses, including a drop in the corporate tax rate to a flat 21 percent, repeal of the corporate AMT, a new 20 percent qualified business deduction for owners of pass-through entities, greater write-offs for buying equipment and machinery and making certain improvements to property, and a new tax credit for paid family and medical leave. However, this same law also eliminated a number of write-offs that businesses have come to know and love. Here is a roundup of deductions and other tax breaks that can no longer be used for 2018 returns.

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