Since last year’s election and the new executive administration and legislators took their offices in January, one issue that has been discussed but hasn’t necessarily been at the forefront of the daily news is federal tax reform. That issue will likely be front and center soon, as congressional leaders have said they will be taking up the issue soon, and it is also one that when resolved, will likely have an impact on all businesses large and small.
With that in mind, the PA Chamber of Business & Industry will hold a webinar about what businesses should do in preparation for the expected changes to the federal tax code in the next year. The webinar will be held on Friday, Oct. 20, from 11 am – noon. Visit the PA Chamber page for more information or to register. Also, below is the full description of the event (via the PA Chamber).
The Potential Impact of Federal Tax Reform Proposals on Businesses— between the broad outline of the Trump administration tax reform plan and the House Republicans’ “Blueprint” business tax plan, sweeping changes are being discussed for federal tax reform that could have a significant impact on companies, as well as individuals. Indications are that some federal tax reform will become law in late 2017 or early 2018.
While the final outcome is uncertain, businesses should consider taking immediate measures to best position themselves for anticipated changes to the tax code. It’s important not to wait for the legislative process because many opportunities must be implemented, or require significant planning, before tax reform becomes effective. Business decisions made now have a long-term economic impact that could change under tax reform.
The objective of this webinar is to help companies understand the federal tax reform initiatives by providing strategies on what they should be doing now to plan for these reforms. The presentation will be delivered by leading tax professionals from the Stevens & Lee/Griffin platform, including Scott Balestrier, former senior income tax partner at E&Y, KMPG, and Anderson; Jay Wagner, a noted estate tax lawyer; and Joe Harenza, Chairman of Stevens & Lee/ Griffin and CEO of Griffin Financial Group, one of the largest investment banks in the Northeast headquartered outside of NYC. They will discuss:
- A Brief Overview of the Policy Considerations Driving Federal Tax Reform and related timing
- Budget Deficits, Federal Debt, Sluggish GDP Growth
- Less than Competitive Tax System
- Stated Goals of Tax Reform
- Tax Reform: “If” and “When”
- Outline and Analysis of Important Provisions
- Individual Taxes: Income and Estate
- Corporate Taxes, Taxation of Pass-through Entities
- Capital Investment and Interest Expense
- International Issues
- Potential Impact of Tax Reform on M&A, Real Estate and Manufacturing and Industries
- M&A for For-Profit Companies
- Other Industries
Also available to provide commentary on the international aspects of tax reform will be Wilfred Muskens, President of Stevens & Lee/Griffin International (SLGI) and Samuel A. McCullough, former Secretary of DCED and Chairman of SLGI.