Tax reform continues to be a hot topic of conversation in the new year now that the Tax Cuts & Jobs Act (TCJA) has been signed into law.
Many questions remain for individuals and businesses now that the sweeping overhaul has passed. What strategies and tactics should you carefully consider now as you plan for the year ahead?
SC&H Group’s tax team hosted a “2018 Tax Strategies” webinar that addressed the significant changes coming down the line in 2018. This webinar took a deeper dive into various opportunities and strategies to think about now as certain tax breaks change and/or disappear.
Below you will find a copy of the webinar recording broken out according to individual tax planning and business tax planning sections, along with key objectives covered within each area. Before making any final decisions, we always recommend that you consult with your tax advisor to review options based on your situation. And, always feel free to contact us if you have any questions as you navigate your 2018 tax plan.
Individual Tax Planning
Presented by: Greg Horning, Director, Amanda Wooddell Wilhelm, Principal, & Stacy Gretz, Manager
Key topics discussed include:
- Modifications to individual tax rates and brackets
- Personal exemptions and standard deduction
- Itemized deductions
- Above-the-line deductions
- Individual tax credits involving child and qualifying dependent care and adoption
- Education, specifically credits, loans, and IRC Sec. 529 Plans
- Updated Provisions
- Estate and gift tax
Corporate & Business Tax Planning
Presented by: Jim Wilhelm, Director, Lori Burghauser, Principal, & Jessica Savage, Manager
Key topics discussed include:
- Depreciation changes
- Qualified Improvement Property (QIP)
- Vehicle limitations
- Tax exempt entities
- Pass-through entities and business deductions
International Tax Planning
Presented by: Bob Dillon, Director
Key topics discussed include:
- Net operating losses
- 100% exemption for foreign-source dividends
- Transition tax on deemed repatriation of foreign earnings
- Intangible assets
- Excise Tax / Base-erosion anti-abuse tax (“BEAT”)
- ASC 740 considerations
Please visit our Tax Resources page for more information, and contact us with any specific questions or concerns we can help you address in the meantime.
