“As you may know, the Senate Finance Committee just released a description of its version of the Tax Cuts and Jobs Act (TCJA). Unfortunately, as explained in more detail in the attached letter that I wrote to my Senator, this could actually represent a step backwards from the standpoint of S corporations, limited liability companies and other closely held “pass-through” businesses.

Such pass-through businesses account for more than 50% of employment and other measures of economic activity within the United States. If you are at all interested, now would be the time to contact your Congressman and Senator regarding these important issues.

It is so important that we get Tax Reform right.”

~ Thomas J. Nichols, President and Shareholder at Meissner Tierney Fisher & Nichols S.C.

Read Tom Nichols’ Full Letter Here

Tom serves as Chairman of the Board of Advisors of the S Corporation Association and has extensive experience in the tax area at both the state and federal levels. Over his 35+ years of practice, he has done a great deal of work involving business entities, tax planning, and other considerations involved in the structuring and conduct of business ventures. Those interested in more information on the Tax Cuts and Jobs Act (TCJA) may contact Tom at tjn@mtfn.com or by calling (414) 273-1300.