Co-Hosted by the Tax Section and the Solo, Small Firm Management Committee
This luncheon CLE program provides a basic overview of the changes to the Internal Revenue Code enacted in December 2017 and the implications for lawyers and law firms. Panelists will also address a new Pennsylvania withholding requirement on non-employee compensation that will apply to experts and other contractors who are not Pennsylvania residents.
Topics will include:
- Changes to the treatment of meals and entertainment expenses
- Changes to the expensing of equipment purchases
- An introduction to the deduction for "qualified business income"
- The implications of the deduction for qualified business income for the structure of lawyer's practices
- The implications of the lower corporate tax rate for the structure of lawyer’s practices
Understanding the new tax law is daunting. Join your colleagues to hear some of the changes to how businesses are taxed and those that may be relevant to smaller firms.