2018 Tax Reform: What You Need to Know Now William
Author : yoshiko-marsland | Published Date : 2025-05-23
Description: 2018 Tax Reform What You Need to Know Now William H Hornberger Jackson Walker LLP 2323 Ross Avenue Ste 600 Dallas TX 75201 2149535857 whornbergerjwcom 2018 William H Hornberger Jason B Freeman Steven D Moore R Thomas
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Transcript:2018 Tax Reform: What You Need to Know Now William:
2018 Tax Reform: What You Need to Know Now William H. Hornberger Jackson Walker L.L.P. 2323 Ross Avenue, Ste. 600 Dallas, TX 75201 214.953.5857 whornberger@jw.com © 2018 William H. Hornberger, Jason B. Freeman, Steven D. Moore, R. Thomas Groves, Jr., Chris Saddock and Brady J. Cox Brady J. Cox Jackson Walker L.L.P. 2323 Ross Avenue, Suite 600 Dallas, TX 75201 214.953.5831 bcox@jw.com Jason B. Freeman Freeman Law 2595 Dallas Parkway, Ste. 420 Frisco, TX 75034 214.984-3410 jason@freemanlaw-pllc.com Dividend Received Considerations Contribution to Capital Considerations Repeal of Tech. Term. Rule Limitation on Non-Corporate Losses Modification of NOLs Litigation Settlement Considerations Carried Interest Considerations Increased Expensing Bonus Depreciation Farm Property Qualified Improvement Property Interest Deduction Limitation Considerations Like-Kind Exchange Considerations Increase in Standard Deduction Repeal of Personal Exemptions Repeal of Overall Limitation on Itemized Deductions Repeal of 2% Floor Tax Rates Qualified Business Income Alternative Minimum Tax Considerations Estate Taxes Planning New Rates Participation Exemption GILTI BEAT Repeal of Active Trade or Business Exception Sale of Partnership Interest Considerations Life Insurance Contracts Entertainment Deduction Considerations FDII Other Foreign Accounting Method Considerations S Corporations to C Corporations INDIVIDUAL RATE CONSIDERATIONS ESTATE PLANNING CONSIDERATIONS SMALL BUSINESS REFORM CORPORATE RATE CONSIDERATIONS QUALIFIED BUSINESS INCOME ALTERNATIVE MINIMUM TAX CONSIDERATIONS EXPENSING CONSIDERATIONS FOREIGN SALT Considerations BUSINESS RELATED DEDUCTION Excise Tax Excess Compensation Inclusion Provisions I.R.S. Notice 2018-03 I.R.S. Notice 2018-07 I.R.S. GUIDANCE PRIORITIES Priority List Compensation Considerations Examples Consolidated Appropriations Act, 2018 A – INDIVIDUAL RATE STRUCTURE 3 1 I.R.C. § 1(j)(2)(C). 2 I.R.C. § 1(j)(2)(B). The Act temporarily replaces the existing rate structure with a new rate structure. A - INDIVIDUAL RATE STRUCTURE 4 1 I.R.C. § 1(j)(2)(A). 2 I.R.C. § 1(j)(2)(D). 3 I.R.C. § 1(j)(2)(E). A.1. - REDUCTION IN CORPORATE TAX RATE 5 CLICK HERE FOR CHART A.1. - REDUCTION IN CORPORATE TAX RATE 6 Tax Reform Section B B.1. – BONUS DEPRECIATION 8 CLICK HERE FOR CHART B.1. – BONUS DEPRECIATION 9 CLICK HERE FOR CHART B.1. – BONUS DEPRECIATION 10 B.1. – BONUS DEPRECIATION 11 B.1. – BONUS DEPRECIATION 12 B.1. – BONUS DEPRECIATION 13 B.1. – BONUS DEPRECIATION 14 B.1. – BONUS DEPRECIATION 15 B.1. – BONUS DEPRECIATION 16 B.2. - MODIFICATIONS TO DEPRECIATION LIMITATIONS ON LUXURY AUTOMOBILES AND PERSONAL USE PROPERTY 17 B.2. - MODIFICATIONS TO DEPRECIATION LIMITATIONS ON LUXURY AUTOMOBILES AND PERSONAL USE PROPERTY 18 B.2. - MODIFICATIONS TO DEPRECIATION LIMITATIONS ON LUXURY AUTOMOBILES AND PERSONAL USE PROPERTY 19 B.3.
