February 28th, 2018

Tax Reform Guidance Seminar

Attorney Kim Spotts-Kimmel recently presented “A New Plan for Growth: Important Guidance on 2018 Tax Reform” alongside Jeffrey Berdahl, a CPA with Regan, Levin, Bloss, Brown & Savchak, P.C. (RLB). Hosted by the Western Lehigh Chamber of Commerce and the East Penn Chamber of Commerce, the luncheon was held at Brookside Country Club. The program attracted over thirty business leaders interested in learning more about the new Tax Cuts and Jobs Act.

Jeffrey’s portion of the presentation delved into the corporate tax changes and business tax changes presented in the new law. He provided detailed information on the accounting side including requirements for certain methods as well as changes to net operating losses, depreciation, and pass-through entity taxation. Jeffrey also delved into individual tax changes.

As a Shareholder with RLB, Jeffrey’s expertise include tax planning and preparation, financial planning, business acquisitions as well as accounting and management advisory services.

Kim’s part of the discussion revolved around new business interests under the 2018 tax reform. She provided a comparison of entity structures, highlighting the tax benefits of each, including the pros and cons of forming or converting to a C Corp. She also delved into the tax limitations on business deductions including entertainment and meals as well as other notable changes under business tax law. Kim’s presentation also highlighted changes to the estate tax, gift tax, real estate tax, and other individual taxes including increased benefits under 529 plans.

Kim is a business attorney, advising businesses of all sizes in transactions, contracts, employment matters, intellectual property concerns, and more. Kim serves as Chair of Gross McGinley’s Tax Law Group and is an L.L.M. candidate at Villanova University.

The content found in this resource is for informational reference use only and is not considered legal advice. Laws at all levels of government change frequently and the information found here may be or become outdated. It is recommended to consult your attorney for the most up-to-date information regarding current laws and legal matters.