Last year, President Trump signed into law the widest-ranging tax reform legislation in decades.
Learn more about how the new federal tax laws and regulations will impact your business during a free webinar hosted by the Big “I” on Wednesday, Oct. 3 at 1:30-2:30 PM EST.
The new legislation will impact the tax liability of agents and brokers in 2018 and beyond. The centerpiece of the law is a reduction of the corporate tax rate from 35 percent to 21 percent.
The law also changes tax rates for individuals and creates a special 20 percent deduction for pass-through businesses. The Treasury Department recently released draft regulations that outline how insurance agencies and brokerages can benefit from the new pass-through deduction.
The webinar will provide a brief introduction to the tax law and its impact on C-corps, as well as changes to individual tax rates. It will also offer a comprehensive explanation of the new deduction for pass-through entities and the draft regulations that directly address how insurance agents and brokers can use the new deduction. Approximately 80 percent of Big “I” members are organized as pass-through entities, such as S-corps and LLCs.