How the New Tax Cuts and Jobs Act Affect Pass-Through Entities

The Tax Cut and Jobs Act will have a profound effect on small businesses, particularly pass through entities. As attorney business owners, we are “lucky” to be named as a specified service business that have additional provisions pertaining to our companies. While many are focused on the new AGI limits that will affect person service businesses’ ability to deduct 20% of their income, several other provisions are being overlooked.

This course, led by attorney Rania Sedhom, will discuss the AGI limits as well as the deductibility of membership dues, meals with clients and prospects, employee meals, entertainment expenses and transit benefits provided to employees. If you are interested in learning about how the new tax law will affect you as an attorney business owner, then this course is for you!

Learning Objectives:

1. Address certain provisions of the new tax law, as they pertain to disregarded entities and small businesses
2. Identify personal service firms and the deduction limitations they will face
3. Grasp how these laws affect a business’ taxation and employee benefits
4. Appreciate some of the lesser debated provisions
5. Discuss what you can do to prepare for these new changes