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Our business blog focuses on issues affecting Virginia, D.C. and Maryland business owners as well as those in other jurisdictions throughout the country. We provide timely insight and commentary on federal and state rules and how they affect you. If you are interested in having us cover a specific topic, please let us know.

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Posts from January 2018.
January 2, 2018
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Topics Taxes

Congress has passed tax reform and President Trump has signed the bill into law. Consequently, the tax code will be dramatically changed for many. Although there are many uncertainties in how the implementing regulations and rules will look, many businesses and certain industries will significantly benefit. There will be ample tax planning opportunities, and we have provided the major highlights to get you started. 

Specifically, we have organized the highlights into four groups. The first is for real estate businesses and is applicable to businesses generally. This section talks about the 20% deduction for pass-through businesses like partnership and S-corporations. The second group is geared toward all employers and contains a significant tax credit for paying employees on FMLA. The third group provides the relevant provisions applicable to tax-exempt organizations such as an excise tax to the entity on excessive compensation. Lastly, there is something for everyone as we pulled out highlights pertaining to almost all of us individually.