With the full passage of tax reform by Congress on Wednesday the 21st, we lack only the President’s signature to officially see passed into law the wide-ranging income tax changes we have all been discussing for weeks. There is currently discussion of the President delaying actual signature until early 2018 due to spending/budgetary considerations; however, that does not change the effective dates of the various provisions, if we take on faith that he will, in fact, be signing it (and he and congressional leaders have been very clear on that point).
GranthamPoole’s brief summaries of some of the law’s major provisions, shared over the last few days, are still available via our website and social media, and we will be both sharing more analysis as we move forward and working directly with our clients on how the changes affect them and their businesses.
If you have questions or would like to talk further, please use the “Contact Us” section of our website, or feel free to reach out directly to a GranthamPoole advisor. Our offices will be closed Monday the 25th and Tuesday the 26th, as well as Monday the 1st of January, but we are eager and ready to face these changes and opportunities together.
Michael A. Carraway, Jr., CPA
Michael A. Carraway, Jr., is a partner with GranthamPoole PLLC and a recognized leader in the field of partnership and corporate taxation, having worked with many clients on entity and transaction structuring matters. He has also written, taught, and spoken on many topics in the area over the years and has served as a technical subject matter expert in several practices. Please contact Mike at mcarraway@granthampoole.com, www.linkedin.com/in/michaelcarraway, or 601-499-2400. CPA License # R2705
***The above does not represent tax advice. Each situation is fact-dependent, and you should seek the advice of a competent advisor. GranthamPoole PLLC is a provider of tax, accounting, advisory and strategic services, partnering with clients across a broad spectrum of industries and sizes.