Trump may not have signed it into law yet, but the final tax bill carries not just drastic changes to the tax code but also a number of provisions that affect employers—and employees.
An HRDive report says that among the changes are the repeal of some business deductions, such as some parking and transportation benefits and some entertainment expenses; however, they businesses did gain a tax credit for paying workers while they're out on Family and Medical Leave Act leave, according to an analysis by Willis Towers Watson.
Employees don’t fare so well, losing not only employer-provided bike commuter benefits and relocation assistance, but also the deductibility of settlements related to sexual harassment or sexual abuse, which won’t be deductible if they are subject to a nondisclosure agreement.
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