Bruce Booken and Rose Wilson, Shareholders in the firm's Tax section, present a broad overview of the 2017 Tax Act's impact on businesses and individuals.

The presentation details:

  • Significant corporate changes
  • New pass-through deduction and its limitations
  • How might companies restructure or rethink their strategies to take better advantage of pass-through deduction?

Individual Tax Changes:

  • Tax rates and brackets
  • Capital gains and dividends
  • Deductions
  • Limitations on home mortgage interest and home equity debt
  • Moving expenses
  • Alimony
  • Child tax credit
  • Alternative minimum tax
  • Estate, gift and generation-skipping taxes
  • Estate planning opportunities

Business Tax Changes:

  • New limit on deduction of business interest
  • Application to partnerships and S corps
  • Modification of expensing for depreciable assets
  • Expenses
  • Sexual harassment or abuse settlements
  • Choice of entity
  • New partnership audit rules

View the presentation here.