Cutting through the pass-through business tax jungle

Amy Sheridan was a panelist at a webinar entitled "Cutting through the pass-through business tax jungle," sponsored by Boston Private.

One of the largest tax cuts in U.S. history is now law. The most complicated section in the new law is proving to be the new tax-rate reduction for the so-called "pass-through" entities, including partnerships, S corporations, LLCs and sole proprietorships. Careful planning by business owners is critical to maximizing tax benefits.

Attendees learned:

• How the pass-through rate works and areas we expect the government to issue regulations
• What businesses qualify for the tax cut, what businesses are excluded and the "gray" areas
• Ideas on managing business income and deductions to maximize your tax cut
• Whether a pass-through form of business continues to make sense for your business with a 21% flat corporate tax rate