123rf.comThe Tax Cuts and Jobs Act (TCJA) is now an official part of the U.S. tax code. As you may know, since April 2017 I twice warned in this space that the legislation was going to favor Wall Street over Main Street businesses. Besides the obvious benevolence, it also resulted in positive PR within and without these organizations. But they would also like to be as generous to their employees and accrue the positive PR. However, since their tax cut was a qualified, 20% deduction, not a 40% tax cut, this competitive dynamic lever is beyond the grasp of six to eight million small businesses.

Source: Forbes February 19, 2018 16:18 UTC