Are you ready for tax “reform?” Thanks to the recently passed Tax Cuts and Jobs Act (TCJA), the tax rate for incorporated linen, uniform and facilities services businesses will be reduced from its current 35% to 21%— 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.

Unfortunately, while regular, “C” corporations will be taxed at a flat 21% tax rate, the majority of small businesses doing business as pass-through businesses will face new individual tax rates that are higher than ...