There is quite a bit a hubbub about the new tax law. Many armchair quarterbacks, a flurry of emails (I've sent them), news and professional articles attempting to condense or translate into simpler terms the recent passage amending tax law.
The one thing owners need to know is that if there is a change in an existing corporate form, it needs to happen before the end of the first quarter. I am not in any way, a tax expert. While I was close to qualifying sitting for the CPA exam, just one semester shy of getting my undergraduate degree in accounting, I quite literally told my advisor, "I don't want people to know I can do this because just because you can, doesn't mean you should." What I do have is a strong referral network of ally tax attorneys and CPAs, that together, we can decide if it is indeed time to change the legal form of your business.
This means, there are many hats, that as business owners, we wear. We can do our own bookkeeping, janitorial service, google for answers on tax law, find that there is a legal answer or service with good SEO for what seems to be a quick answer to our current hot button. Whatever your widget or service is for your business, would you want me to build/make/do it? Well, if it's legal services or make a mean meatloaf (need to add a link to my recipe for that!), yes, you do. But if it's that thing that you were passionate about to start your business? No.
Share the load. It's important to know your strengths and share the load where your weaknesses lay, to free you up to do what makes your business soar into 2018.