How the Tax Cuts and Jobs Act Could Affect Massage Therapists

This excerpt is from Lisa Bakewell’s article “The Tax Rules, They Are A-Changin’” in Massage & Bodywork magazine. You can read the full article at www.massageandbodyworkdigital.com/i/943527-march-april-2018/92. ABMP echoes Lisa’s advice: this article is a guide, and you should seek the advice of a financial professional to obtain optimal tax benefits for you, your family, and your business. ABMP members save with H&R Block at https://www.abmp.com/members/business-management/discounts-and-resources/discounts#legal-and-finance.

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (TCJA), marking the first significant reform of the US federal tax code for individuals, small businesses, and corporations since the 1986 Tax Reform Act.

Beginning in 2018, the TCJA provides several taxsaving opportunities for businesses of all shapes and sizes and—most notably—a new tax deduction for small business owners (pass-through entities).

In this article, highlights of the TCJA are discussed; however, always seek the advice of a financial advisor to obtain optimal tax benefits for you, your family, and your business.

The full text of the article is available here, and includes:

  • An overview of the seven individual tax brackets and rates for 2018.
  • A review of Section 179, the deduction allowing small businesses an immediate break on purchases of equipment.
  • An overview of phased-out deductions and other changes as a result of the TCJA.
Category: 

News

Increasing Education Hours: A Trend on the Rise

Due to a revised federal rule change, states with minimum-hour education requirements lower than 600 are considering increasing their massage therapy program length. Find out which states have already introduced bills that would raise education hours, which massage boards have proposed and made final rule changes, and why this is becoming a national trend.

Blog

ABMP CE Summit: Headaches

 Headaches.

Join us online Tuesday, April 30, 2024, for the ABMP CE Summit: Headaches, which take learners on a journey from understanding headaches to working with clients with headache pain using multiple modalities and techniques.

New CE Course: Stretching the Hip

Dr. Joe Muscolino displays a massage therapy technique.

The new ABMP CE course, “Stretching the Hip,” is available in the ABMP Education Center to view and earn 1.5 CE hours.

Benefits

Podcast: Cancer, Clots, and COVID—A Complicated Client

A client was recently treated for colon cancer—and it didn’t go well. She had surgical complications, a bout of sepsis, and more. Is massage therapy safe? We discuss on this episode of “I Have a Client Who . . .” Pathology Conversations with Ruth Werner.

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