Description
Congress is working to make the favorable Tax Cuts and Jobs Act (TCJA) provisions permanent. The TCJA substantially reduced the rate of federal corporate income tax on C corporations relative to pass through entity owners. In addition, §199A provided a limited deduction narrowing the differential between C corporations and pass through entities but restricted relief to non-service businesses and included a ceiling limit. Other favorable TCJA aspects some hope to see extended include exit strategies for owners of C corporations in start-ups and non-service sectors, such as capital gains exclusions under §1202 or reinvestment deferrals under §1045—benefits largely unavailable to unincorporated business owners.
With a possible TCJA extension (one that could include last-minute add-ons) and a summer Budget Reconciliation Bill prospect, now is the opportune time to assess the tax implications of entity selection and conversions. This webcast will cover need-to-know tax considerations and strategies for conversions large and small - register today!
In these uncertain times, how should taxpayers—and their counsel—approach tax planning, formation, and entity conversion decisions? During this deep-dive presentation we’ll share some answers as we explore:
- Choice of business entity in light of extension of TCJA 2017 by Congress
- Tax rate differentials for domestic business operations and non-US source income
- Application of §199A with respect to qualified business income
- Exclusion of gain under §1202 and related provisions
- Immediate expensing of research and development costs and investment and equipment
- Tax consequences with respect to entity conversions and traps for the unwary
- Check-the-box election do’s and don’ts
- Estate tax impacts
Tax attorneys, CPAs, corporate tax departments, in-house counsel managing tax risk, financial professionals advising clients on complex tax and formation matters, and anyone else working in taxation will benefit from watching this webcast.