Presented by the American Bar Association Section of Taxation
The recently enacted 2017 Tax Act will have a major impact on small and solely held businesses including business and professional services. The new law affects law firms since many of the new provisions change the taxation of small and closely held businesses and pass through entities, which would currently include most law firms. In particular, the new 20% passthrough deduction specifically excludes legal service income, leaving many planners considering their options. How does the new law affect your law firm and what planning is available? Our panel will discuss the new tax legislation and how it will impact lawyers and their firms.
CLE credit available.