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New Tax Law: What Businesses Need to Know About the New Tax Law - Webinar

McLane Middleton attorneys John Rich, Steve Burke, John Colucci, Beth Fowler, Amy Drake, and Catherine Hines discuss the new tax law's impact on businesses.

Key Corporate, Individual, and Estate Tax Provisions

  • Reduction of corporate income tax rate to 21 percent.
  • Significant changes to the taxation of pass-through businesses (sole proprietorships, subchapter S corporations and partnerships) including 20 percent deduction for qualified business income.
  • Elimination of the corporate alternative minimum tax.
  • Expansion of businesses that can use cash method of accounting.
  • Limitations on certain fringe benefits, changes to stock option taxation, and new excise taxes on executive compensation.
  • Changes to the rules on full expensing of capital assets through 2022 with a phase-down between 2022 and 2027. The "original use" rule does not apply, so taxpayers can obtain full expensing for purchases of used property.
  • Net operating losses arising in taxable years beginning after 2017 are limited to 80 percent of taxable income with no carrybacks and unlimited carryforwards.
  • Reduction in individual tax rates, limitations on available deductions, and modification of individual alternative minimum tax until 2026.
  • Increase in the federal estate and gift tax unified credit basic exclusion amount to $10 million (as adjusted for inflation) but no repeal of the federal estate and gift tax.

 

Agenda
Program - 12:00 p.m. to 1:00 p.m.

Cost
This event is being offered as a free education session.

Location
Webinar

Registration
To register, click here.

Integrity and trust

At McLane Middleton we establish and maintain long-standing relationships with our clients to help us better achieve their unique goals over time. This approach to building trust requires that our esteemed lawyers and professionals use their broad, in-depth knowledge and work together with integrity to ascertain sound resolutions to legal matters for their clients.

Strength in numbers

McLane Middleton is made up of more than 105 attorneys who represent a broad range of clients throughout the region, delivering customized solutions. As a firm we are recognized as having the highest legal ability rating. The firm is rated Preeminent by Martindale Hubbell and is recognized as one of the nation's leading law firms in Chambers USA. Our attorneys are distinguished leaders in their respective practice areas.

Meet Our People

Commitment and collaboration

McLane Middleton's versatile group of attorneys and paralegals become trusted authorities on each case through collaboration. We work with our clients to learn their individual needs first and foremost and, together, we develop comprehensive solutions to their specific legal matters. This approach helps us exceed our clients' expectations efficiently and effectively, client by client, case by case.

Practice Areas

A history of excellence

McLane Middleton was established in 1919 in New Hampshire, and has five offices across two states. However, deep historical roots don't allow you to become innate. Our firm is organized, technological, and knowledgeable. Our history means we are recognized. But our reputation is built on the highest quality of service and experience in very specific areas of law.

The Firm

Intelligence paired with action

Our team continuously seeks opportunities to enhance their professional development and put key learnings to action. The pursuit of further insight guides us to volunteer service opportunities, speaking engagements, and teaching roles. Our lawyers are sought after thought leaders across their industries, and recipients of leadership awards throughout the region.