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.