Are you ready for tax “reform?” Thanks to the just passed Tax Cuts and Jobs Act, the tax rate for incorporated podiatry practices and businesses will be reduced from its current 35 percent to 21 percent — for the 2018 tax year and thereafter. And, although the business tax cuts are for the most part permanent, the tax cuts for individuals are temporary, expiring in 2026.
How will the tax cuts and jobs act impact podiatry?
Are you ready for tax “reform?” Thanks to the just passed Tax Cuts and Jobs Act, the tax rate for incorporated podiatry practices and businesses will be reduced from its current 35 percent to 21 percent — for the 2018 tax year and thereafter. And, although the business tax cuts are for the most part permanent, the tax cuts for individuals are temporary, expiring in 2026.