I found the recent IRS release on the new tax law — a side-by-side comparison for businesses showing “before-and-after” rules — to be well-written and clear, and it does a good job of highlighting the key changes in order of relative importance to most companies. As such, I’m reprinting the recent IRS newsletter to small businesses in its entirety below.

From the IRS e-News for Small Business, Issue #36:

The Tax Cuts and Jobs Act (TCJA) changed deductions, depreciation, expensing, tax credits and other tax items affecting businesses. This side-by-side comparison can help businesses understand the changes and plan accordingly.

Some provisions of the TCJA affecting individual taxpayers can also affect business taxes. Businesses and self-employed individuals should review tax reform changes for individuals and determine if and how these provisions may concern their business situation.

Visit IRS.gov/taxreform regularly for tax reform updates. Businesses can find details and the latest resources at Tax Reform Provisions that Affect Businesses.