How Trump’s Tax Law Is Actually Hitting U.S. Businesses | WSJ

Tax Law Impact on Businesses - The new tax law extended tax cuts and created new deductions for overtime pay, tipped workers, and senior citizens [1] - The law also expanded the state and local tax (SALT) deduction [2] - Bonus depreciation allows companies to deduct 100% of the cost of certain equipment immediately [4] - The 20% deduction for pass-through businesses was made permanent, potentially boosting companies like Gulf Distributing with $750 million in gross revenue per year [7] - The per-person estate tax exemption increased to $15 million, providing certainty for family-owned businesses [10] Winners and Losers - Gulf Distributing is benefiting from the new tax law, using it to expand and invest in equipment [3][6] - Solar Alternatives is facing challenges due to the phasing out of the 30% clean energy credit for homeowners and commercial credits [15] - Solar Alternatives anticipates a reduction in its workforce due to the new tax law [15] Renewable Energy Sector - The 30% clean energy credit for homeowners will expire at the end of the year, and commercial credits will be phased out over the next few years [15] - A solar system without batteries costs approximately $20,000, while adding a battery can add another $20,000 [14] - The solar industry argues that the phase-out of tax credits does not provide enough time for businesses to adapt [18]