Law Firm Business Structures and the Impacts of Tax Reform
Date(s) - Nov 07, 2019
12:00 pm - 1:30 pm
Clark Hill PLC
- James J. Cunningham, CPA, Tax Partner, BDO USA LLP
- Rebecca A. Lodovico, Managing Director, National Tax Office, BDO USA LLP
Thursday, November 7, 2019
12:00 Noon – 1 :30 P.M.
Lunch will be provided.
PLAA Members – Free
Non-members – $25
Location: Clark Hill PLC, One Oxford Centre, 301 Grant Street, 14th Floor, Pittsburgh, PA 15219
What are the basic organizational structures of law firms? What are the advantages and disadvantages of these structures? How do factors such as tax treatment, cost and complexity of formation, and limitation of liability come into consideration when choosing a law firm structure? The passage of the Tax Cuts and Jobs Act (TCJA) in December, 2017 has caused many law firms to take a hard look at their business structures and to reconsider the form of entity in which their businesses operate. Our speakers will discuss the various provisions in TCJA that are impacting these decisions including the significant tax rate reduction for corporations, elimination of the corporate Alternative Minimum Tax, and a new 20% deduction for Qualified Business Income from certain pass through entities such as S Corporations, partnerships and sole proprietorships. They will also review factors such as the variation in state tax rates and the income tax rate reductions for individuals. This presentation will share information on options available to law firms and factors for consideration in analyzing whether a change in your law firm tax structure is worthwhile.
Please register on the PLAA website no later than Friday, November 6, 2019
James J. Cunningham, CPA, Tax Partner, BDO USA LLP
Mr. Cunningham has more than 30 years of experience in tax and public accounting. He provides tax and business consulting services for clients in the advanced technology, construction, professional services, real estate and manufacturing industries.
Rebecca A. Lodovico, Managing Director, National Tax Office, BDO USA LLP
Ms. Lodovico has more than 18 years of public accounting experience and has provided comprehensive tax compliance and consulting services to clients in a variety of industries.
CLMSM App Credit for Functional Specialists: 1 hour in the subject area of Financial Management (FM) towards the additional hours required of some Functional Specialists
to fulfill the CLM application.
CLMSM Recertification Credit: 1 hour in the subject area of Financial Management (FM)