“As you may know, the House Ways and Means Committee just released the text for its new Tax Reform proposal, the Tax Cuts and Jobs Act (TCJA), on Thursday of last week. Unfortunately, as explained in more detail in the attached letter that I wrote to my Congressman, this could actually represent a step backwards from the standpoint of S corporations, limited liability companies and other closely held “pass-through” businesses.
Such pass-through businesses account for more than 50% of employment and other measures of economic activity within the United States. If you are at all interested, now would be the time to contact your Congressman regarding these important issues.
It is so important that we get Tax Reform right.”
~ Thomas J. Nichols, President and Shareholder at Meissner Tierney Fisher & Nichols S.C.
Read Tom Nichols’ Full Letter Here
Tom serves as Chairman of the Board of Advisors of the S Corporation Association and has extensive experience in the tax area at both the state and federal levels. Over his 35+ years of practice, he has done a great deal of work involving business entities, tax planning, and other considerations involved in the structuring and conduct of business ventures. Those interested in more information on the Tax Cuts and Jobs Act (TCJA) may contact Tom at tjn@mtfn.com or by calling (414) 273-1300.
