2017 Tax Reform for Individuals: Winners and Losers

This course provides a general overview of some of the effects of the 2017 Tax Reform Act on individuals, such as the deduction limitations for state/local taxes (SALT) and mortgage interest, the new 20% pass-through business deduction, and certain benefits for investments in so-called "qualified opportunity zones".  The discussion covers some proposed Treasury Regulations and other guidance over the past year that have expanded upon the new legislation.

The program, led by attorney Libin Zhang, will take a look at some suggested taxpayer strategies that have been rejected by the Treasury, and other strategies that may be successful moving forward.

Learning Objectives:

1. Identify the effects of the new tax law on individuals
2. Analyze some state responses to the SALT deduction limitation, and the Treasury counter-responses
3. Gain an overview of the 20% pass-through business deduction, and the types of businesses that the Treasury has identified as qualifying or not qualifying for the deduction
4. Discuss the tax benefits for investments in qualified opportunity zones
5. Explore potential personal tax planning and other considerations to maximize the benefits of the new tax law, such as creating trusts