Wondering how the new tax reform legislation impacts your business?
For most commercial businesses, the Tax Cuts and Jobs Act (TCJA) offers a welcomed profitability boost. The legislation significantly lowers corporate tax rates, but its provisions raise the stakes for how tax planning strategies will help – or hurt – the business going forward.
Fundamental business decisions such as whether to convert from a pass-through status to a C corporation status carry unique risks and rewards. Meanwhile the many nuanced provisions of the new legislation offer both opportunities to jump on and pitfalls to avoid. The pressure is on to create a game plan that allows the business to act swiftly to take full advantage of every opportunity while balancing the short- and long-term impacts of your decisions.
Our playbook takes a detailed look at tax reform opportunities and challenges to help you define your plays, take prompt action, and plan for the future.
- An overview of many key provisions of the new legislation, including bonus depreciation, QBID, NOLs, deemed repatriation of earnings from foreign business activities, and more
- Tax planning tips and strategies to optimize your tax position for the 2017 tax year before it's too late
- Strategies and considerations to prepare your business for the 2018 tax year and beyond, including:
- Longer-term considerations such as entity choice and revenue recognition
- Tax implications for buyers and sellers involved in M&A transactions
- Small taxpayer accounting method considerations
- Estate tax changes