New Tax Laws and Their Effect on Businesses

By Bonnie Watts, CEM

April 15. Most working-class individuals hear that date and cringe. I’m one of those over-zealous individuals and had my taxes filed and returned before the end of January. My tax preparer was already ahead of the game, providing me with information on how the new tax laws (even before they had officially passed) would affect me for next year versus this year. Subsequently, my first paycheck after the new laws became effective gave me warm and fuzzy feelings about the tax changes.

The impact on businesses, specifically the parking and transportation industry, can be very different. The implications can vary and have significant effects on employee benefits. Any company subsidizing employees’ cost will see big changes. There are a ton of articles out there since the new laws were enacted but it can be a bit overwhelming trying to narrow down exactly how they will impact you and your organization. You may be seeking alternatives or need help navigating the details of the changes. Below are a few reference articles I ran across but if you’re looking for an expert to help shed light on how the changes can effect your organizations bottom line, Sam Veraldi with the University of North Carolina will take a deep dive and provide real take-aways during the session New Tax Laws and Their Implication on Parking, Transportation, and Commuter Benefits on Sunday, June 3 at the 2018 IPI Conference & Expo. Learn more by clicking here.

Reference Articles:
President Signs Tax Bill Altering Employee Benefits
Top 10 Tax Changes for Business Owners

Bonnie Watts, CEM, is IPI’s vice president of sales.

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