Posts from February 2018.

Under the Tax Cuts and Jobs Act, Congress is now offering a new 20% deduction for "pass-through" businesses - i.e. businesses that are not corporations. With the corporate tax rate being reduced under the new law to a flat 21%, the 20% deduction for other forms of businesses was designed to give a reduction to these businesses approximating the lower corporate tax rate. If applicable, the 20% deduction can be claimed by the owners of S corporations, partnerships, sole proprietorships, and even the beneficiaries of trusts. These are business entities that do not pay income tax at the ...

At the end of 2017, President Trump signed into law a sweeping and comprehensive overhaul of the U.S. tax system. The Tax Cuts and Jobs Act includes significant changes for business owners. We invite you to attend a special seminar, led by McNair's Tax Practice Group Leader, Erik Doerring, who will discuss these changes and how they will affect you and your business. Topics will include:

  • Corporate tax changes/reductions
  • Individual tax changes
  • The new 20% deduction for pass-through businesses
  • Potential business restructuring to take advantage of the new tax cuts

Join us as we break ...

Posted in: Federal Tax
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