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5 things small business owners should know or do in 2018

By: JOYCE M. ROSENBERG, Associated Press
January 3, 2018 Updated: January 3, 2018 at 10:03 am
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photo - FILE - In this Monday, Dec. 4, 2017, file photo, Gail Trauco, owner of The PharmaKon, looks over her health insurance benefit comparison chart which shows out-of-network coverages dropped for 2018, at her home office in Peachtree City, Ga. Most companies’ health care plans are set for 2018, but there will be some changes when it comes time to choose policies that begin later in the year or in 2019. (AP Photo/David Goldman, File)
FILE - In this Monday, Dec. 4, 2017, file photo, Gail Trauco, owner of The PharmaKon, looks over her health insurance benefit comparison chart which shows out-of-network coverages dropped for 2018, at her home office in Peachtree City, Ga. Most companies’ health care plans are set for 2018, but there will be some changes when it comes time to choose policies that begin later in the year or in 2019. (AP Photo/David Goldman, File) 

NEW YORK (AP) — Small business owners have entered 2018 with many questions about how big their tax bills will be, but they're also optimistic about profiting from a strong economy.

And aside from financial matters, owners with employees must stay mindful about one of the troubling issues of 2017, sexual harassment.

There are few answers just yet on taxes. Accountants and other tax professionals may have given owners some general ideas about the impact of the tax changes, but the IRS must still write regulations that will spell out what taxpayers can do under the law and how they must comply.

Separate from the tax bill, the IRS has set the standard mileage rate for business use for a car at 54.5 cents per mile, up 1 cent from 2017.

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