BUSINESS TIP ––––––––––––––––––––––––––––––––––––––––––––––––––––––– In response to contractors’ needs, MAPEI has developed a new 100%-solids epoxy grout and mortar that has superior workability and is water-clean- able. Easy-to-apply Kerapoxy® CQ uses colored quartz to achieve its durable color, making it excellent for countertops, high- traffic areas, and areas needing stain and chemical resistance. It produces non-sag/non-slump joints up to 3/8” (10 mm) that do not require a sealer. With prop- er cleaning and maintenance, Kerapoxy CQ has excellent resistance to chemicals, stain- ing, alkalinity, chlorine, bacteria and color deterioration. Plus, using Kerapoxy CQ means that spills stay at the surface level for easier maintenance once the area is in use. And Kerapoxy CQ comes in 40 trend-setting colors! www.mapei.com. purchased for use in a trade or busi- ness, including both new and used property. Increased “Luxury” Auto Depreciation Limits: The bill increases limits on passenger vehicle depreciation – commonly referred to as the “luxury vehicle deprecia- tion limit.” The limits are increased from $3,160 to $10,000 in the first year; from $5,100 to $16,000 in the second year; from $3,050 to $9,600 in the third year; and from $1,875 to $5,760 in the fourth and later years. Limit on Interest Deduction: For companies with more than $25 mil- lion in gross receipts, the bill limits the deduction for corporate interest paid. The deduction cannot exceed the sum of i) business interest income plus ii) 30% of the adjusted taxable income of the corporation. Entertainment Expenses: No deduc- tion will be allowed for entertainment expenses, although the company can still deduct 50% of the cost of meals for employees on work travel. Credit for Family and Medical Leave: In 2018 and 2019, employers can claim a tax credit of 12.5 to 25% for wages paid to employees while on paid family and medical leave. A new deduction for pass-through entities One of the most intriguing and complicated changes is the new tax benefit for “pass-through” entities, which includes S-corporations, part- nerships, sole proprietors and most LLCs. The essence of the new Section 199A is a deduction of 20% of the entity’s Qualified Business Income (QBI). The potential tax savings is prompting many business owners to 26 TileLetter | March 2018