Attorney Tom Nichols was recently quoted in The Wall Street Journal Article titled “Pass-Through Businesses Are Rethinking Their Status in Wake of Tax Law”.
The article outlines how the new tax law impacts business owners, and why business owners may want to re-evaluate their company structure.
The corporate tax rate for C Corporations was cut from 35% down to 21% while the owners of a business set up as a pass-through entity can now deduct 20% of the pass-through income. March 15th is the deadline for many businesses to make their election that would be retroactive to the beginning of 2018.
For more information on these and other corporate tax matters, please feel free to contact Tom at firstname.lastname@example.org or by calling (414) 273-1300.