Looking Ahead: Life After Legislation
Looking Ahead: Life After Legislation
After a dramatic and breakneck legislative process, U.S. tax reform is finally a reality. And while it will continue to make headlines, it’s just one part of all the complex tax issues facing businesses. The greatest challenge for many companies will continue to be handling their total tax liability—grasping where tax costs arise across their entire business and developing strategies to address areas that would have the greatest impact to their bottom line. With tax costs dispersed from country to country, state to state—even to industry-specific taxes—savvy businesses must consider tax from a holistic perspective and aim to develop comprehensive, data-driven solutions.
BDO has its finger on the pulse of tax reform, and the many ways it will impact our clients. Learn more about what we already know about tax reform, what we still need to know, and what companies should be doing now.
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What have we learned?We answer some of the top questions about the tax law in our Tax Reform FAQs. |
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What are we still waiting on?View our latest tax reform insights. |
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What should companies be doing?Use our Tax Reform Decoder to learn about key planning opportunities your organization should be considering, and what you should be doing now. |
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Answer the questions below to receive a customized assessment of what your company should consider in order to optimize tax strategy and minimize total tax liability, along with helpful resources to help you chart your path to success.
Tax Reform Assessment
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Disclaimer: This evaluation tool is provided for information purposes only, and the amounts shown to you do not constitute financial advice. Use of the evaluation tool, including information provided by you, is governed by the BDO USA Website Terms and Conditions.
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Tax Reform Assessment Results
Thank you for completing our Tax Reform Decoder. Based on your responses, below you’ll find a customized overview of the specific issues your company should think about when it comes to tax planning. If you have any questions, or if you would like to learn more about ways BDO can assist you in optimizing your tax strategy, please visit our Tax Reform resource page.
Does your business operate internationally?
Your Custom Profile (Yes):
If your business operates internationally, there are a number of provisions in the new tax law to examine carefully, including the mandatory repatriation of foreign earnings, the base erosion and anti-abuse tax (BEAT), the taxation of Global Intangible Low-Taxed Income (GILTI), and a deduction for foreign-derived intangible income (FDII).
BDO’s International Tax Services practice has many resources that can help you navigate this new era of international taxation.
If your business operates internationally, there are a number of provisions in the new tax law to examine carefully, including the mandatory repatriation of foreign earnings, the base erosion and anti-abuse tax (BEAT), the taxation of Global Intangible Low-Taxed Income (GILTI), and a deduction for foreign-derived intangible income (FDII).
BDO’s International Tax Services practice has many resources that can help you navigate this new era of international taxation.
Your Custom Profile (No):
For corporate income tax purposes, most states will begin the calculation of state taxable income with either “line 28” or “line 30” federal taxable income. States provide various addition and subtraction modifications applicable to particular income, gain, loss, and deduction items that enter into the calculation of federal taxable income. The federal taxable income starting point may mean different things in different states depending on the method of state conformity to the Internal Revenue Code. Make sure to stay abreast of forthcoming changes at the state level and plan for multiple scenarios.
BDO’s State and Local Tax practice regularly publishes Insights on the latest developments and trends in state taxation so you can get up-to-date fast on tax changes in your areas of operation.
For corporate income tax purposes, most states will begin the calculation of state taxable income with either “line 28” or “line 30” federal taxable income. States provide various addition and subtraction modifications applicable to particular income, gain, loss, and deduction items that enter into the calculation of federal taxable income. The federal taxable income starting point may mean different things in different states depending on the method of state conformity to the Internal Revenue Code. Make sure to stay abreast of forthcoming changes at the state level and plan for multiple scenarios.
BDO’s State and Local Tax practice regularly publishes Insights on the latest developments and trends in state taxation so you can get up-to-date fast on tax changes in your areas of operation.
How is your company structured?
Your Custom Profile (C corporation):
If your business operates as a C corporation, you’re now subject to a reduced corporate tax rate of 21% under the new tax law. The permanent rate reduction, along with the repeal of the corporate Alternative Minimum Tax (AMT), were included in an effort to make American corporations more competitive internationally and at home. The question now is how to reinvest those savings.
As a C corporation, you also qualify for the Foreign-Derived Intangible Income (FDII) deduction if you generate certain types of foreign income.
BDO can assist with maximizing your tax savings under the new law, and can assist with determining how to deploy tax savings resulting from the reduced rate.
If your business operates as a C corporation, you’re now subject to a reduced corporate tax rate of 21% under the new tax law. The permanent rate reduction, along with the repeal of the corporate Alternative Minimum Tax (AMT), were included in an effort to make American corporations more competitive internationally and at home. The question now is how to reinvest those savings.
As a C corporation, you also qualify for the Foreign-Derived Intangible Income (FDII) deduction if you generate certain types of foreign income.
BDO can assist with maximizing your tax savings under the new law, and can assist with determining how to deploy tax savings resulting from the reduced rate.
Your Custom Profile (Partnership):
If your business operates as a partnership, you could potentially qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply and additional guidance is expected.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
Read our alert on how tax reform stands to impact partnerships.
If your business operates as a partnership, you could potentially qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply and additional guidance is expected.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
Read our alert on how tax reform stands to impact partnerships.
Your Custom Profile (S corporation):
If your business operates as an S corporation, you could qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply.
You also may want to explore potential conversion to a C corporation, which has been made more taxpayer-friendly under the new law.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
If your business operates as an S corporation, you could qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply.
You also may want to explore potential conversion to a C corporation, which has been made more taxpayer-friendly under the new law.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
Your Custom Profile (Limited Liability Company (LLC) ):
If your business operates as an LLC, you could potentially qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
If your business operates as an LLC, you could potentially qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
Your Custom Profile (Sole proprietorship):
If your business operates as a sole proprietorship, you could potentially qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
If your business operates as a sole proprietorship, you could potentially qualify for the 20% income tax deduction for pass-through businesses, but some exclusions apply.
BDO can assist with navigating the murky waters of the new tax legislation, determine if you should consider an entity change, and can help minimize your overall tax liability.
Your Custom Profile (Unsure):
If you’re unsure, BDO can assist with determining your structure and assessing if it’s the most effective option for your business, or if you should consider an entity change.
If you’re unsure, BDO can assist with determining your structure and assessing if it’s the most effective option for your business, or if you should consider an entity change.
Which option best describes the industry your business is in?
Your Custom Profile (Consumer Business/Retail):
There are wide implications for retailers when it comes to tax reform.
From changes to the corporate rate to potential savings from tax depreciation, it’s critical that retailers assess the impact and opportunities tax reform provides to their businesses.
Related Insight: Tax Reform FAQ for Retail & Consumer Products Companies
There are wide implications for retailers when it comes to tax reform.
From changes to the corporate rate to potential savings from tax depreciation, it’s critical that retailers assess the impact and opportunities tax reform provides to their businesses.
Related Insight: Tax Reform FAQ for Retail & Consumer Products Companies
Your Custom Profile (Technology):
Related Insights: The Impact of Tax Reform on Startup Equity: New Rules Could Make It Easier for Employees to Exercise Options and Tax Reform’s Impact on the Technology Industry
There are wide implications for tech companies when it comes to tax reform.
From changes to international tax provisions to new rules that make it easier for employees to exercise options, it’s critical that tech companies and startups assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: The Impact of Tax Reform on Startup Equity: New Rules Could Make It Easier for Employees to Exercise Options and Tax Reform’s Impact on the Technology Industry
Your Custom Profile (Healthcare):
There are wide implications for healthcare companies when it comes to tax reform.
From the repeal of the individual mandate to changes to the amortization of Research & Experimental Procedures, it’s critical that healthcare entities assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: What Tax Reform Means for Healthcare Entities: For-profit & Non-profit and What Repeal of ACA Individual Mandate Means & More
There are wide implications for healthcare companies when it comes to tax reform.
From the repeal of the individual mandate to changes to the amortization of Research & Experimental Procedures, it’s critical that healthcare entities assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: What Tax Reform Means for Healthcare Entities: For-profit & Non-profit and What Repeal of ACA Individual Mandate Means & More
Your Custom Profile (Insurance):
There are wide implications for insurers when it comes to tax reform.
From the reduction of the corporate tax rate to changes to net operating losses, it’s critical that insurance companies assess the impact, and opportunities, tax reform provides to their businesses.
Related Insight: Tax Reform FAQ for Insurers
There are wide implications for insurers when it comes to tax reform.
From the reduction of the corporate tax rate to changes to net operating losses, it’s critical that insurance companies assess the impact, and opportunities, tax reform provides to their businesses.
Related Insight: Tax Reform FAQ for Insurers
Your Custom Profile (Life Sciences):
There are wide implications for life sciences companies when it comes to tax reform.
From the reduction of the corporate tax rate to international tax provisions, it’s critical that life sciences companies assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Life Sciences Tax Reform FAQ and Tax Reform’s Impact on the Life Sciences Industry
There are wide implications for life sciences companies when it comes to tax reform.
From the reduction of the corporate tax rate to international tax provisions, it’s critical that life sciences companies assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Life Sciences Tax Reform FAQ and Tax Reform’s Impact on the Life Sciences Industry
Your Custom Profile (Real Estate/REITs/Construction):
There are wide implications for real estate companies, construction companies, and REITs when it comes to tax reform.
From the reduction of the corporate tax rate to significant changes in the treatment of partnerships, it’s critical that real estate companies assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Don’t Miss the Added Tax Depreciation Deadline, Bonus Depreciation, Tax Reform Changes Make Cost Segregation Studies Essential, Tax Reform and Partnerships: What You Need to Know, and How Tax Reform Will Impact Construction
There are wide implications for real estate companies, construction companies, and REITs when it comes to tax reform.
From the reduction of the corporate tax rate to significant changes in the treatment of partnerships, it’s critical that real estate companies assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Don’t Miss the Added Tax Depreciation Deadline, Bonus Depreciation, Tax Reform Changes Make Cost Segregation Studies Essential, Tax Reform and Partnerships: What You Need to Know, and How Tax Reform Will Impact Construction
Your Custom Profile (Restaurants):
There are wide implications for restaurant owners when it comes to tax reform.
From changes to the state and local tax deduction to the treatment of pass-through businesses, it’s critical that restaurants assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Tax Reform: Pass-Through Planning & Bonus Depreciation Pondering, How Tax Reform Will Impact Restaurants, Tax Reform Introduces New Limitations on Business Interest Deduction, and Don’t Miss the Added Tax Depreciation Deadline
There are wide implications for restaurant owners when it comes to tax reform.
From changes to the state and local tax deduction to the treatment of pass-through businesses, it’s critical that restaurants assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Tax Reform: Pass-Through Planning & Bonus Depreciation Pondering, How Tax Reform Will Impact Restaurants, Tax Reform Introduces New Limitations on Business Interest Deduction, and Don’t Miss the Added Tax Depreciation Deadline
Your Custom Profile (Manufacturing and Distribution):
There are wide implications for manufacturers when it comes to tax reform.
From changes to international tax provisions to alterations to the R&D credit, it’s critical that manufacturers assess the impact, and opportunities, tax reform provides to their businesses.
Related Insight: Tax Reform FAQ for Manufacturers
There are wide implications for manufacturers when it comes to tax reform.
From changes to international tax provisions to alterations to the R&D credit, it’s critical that manufacturers assess the impact, and opportunities, tax reform provides to their businesses.
Related Insight: Tax Reform FAQ for Manufacturers
Your Custom Profile (Natural Resources):
There are wide implications for natural resources companies when it comes to tax reform.
From alterations to the R&D credit to the reduction of the corporate rate, it’s critical that manufacturers assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Tax Reform: Making the R&D Tax Credit Relevant Again for Natural Resources and Natural Resources and the R&D Tax Credit: Financing Innovation in the New Tax Regime
There are wide implications for natural resources companies when it comes to tax reform.
From alterations to the R&D credit to the reduction of the corporate rate, it’s critical that manufacturers assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: Tax Reform: Making the R&D Tax Credit Relevant Again for Natural Resources and Natural Resources and the R&D Tax Credit: Financing Innovation in the New Tax Regime
Your Custom Profile (Private Equity):
There are wide implications for both private equity firms and their portfolio companies when it comes to tax reform.
From changes to the tax treatment of partnerships to limitations on interest deductions, it’s critical that private equity firms assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: The Brave New World of M&A and Tax Reform, Tax Reform and Partnerships: What You Need to Know, and PE on the Lookout for More Tax Reform Changes
There are wide implications for both private equity firms and their portfolio companies when it comes to tax reform.
From changes to the tax treatment of partnerships to limitations on interest deductions, it’s critical that private equity firms assess the impact, and opportunities, tax reform provides to their businesses.
Related Insights: The Brave New World of M&A and Tax Reform, Tax Reform and Partnerships: What You Need to Know, and PE on the Lookout for More Tax Reform Changes
What will be your biggest challenge related to implementing tax reform changes?
Your Custom Profile (Collecting the necessary data to understand the impact on my business):
Managing vast amounts of tax data is not easy, and a host of data is needed to accurately map the impact of federal tax reform across every aspect of your business.
BDO’s Tax Transformation Services practice offers a free brainstorming session to help you unlock the potential of your company’s tax data, and develop a sustainable plan to transform your tax function.
Schedule your complimentary session here.
BDO’s Tax Transformation Services practice offers a free brainstorming session to help you unlock the potential of your company’s tax data, and develop a sustainable plan to transform your tax function.
Schedule your complimentary session here.
Your Custom Profile (Understanding the overall impact on my business):
Assessing the impact of tax reform on your business means you need to understand your total tax liability--all of the various tax dynamics across the business and how they intersect—which can be a daunting task for even the most sophisticated organization.
Keep in mind that tax reform isn’t just a big deal for the finance and accounting department; it’s potentially transformational for your entire business. Companies on the verge of major strategic business decisions such as mergers, acquisitions, or restructurings, all need to seriously examine these decisions in light of tax reform.
Related Insight: Top 10 Things Companies Need to Know About Tax Reform
Assessing the impact of tax reform on your business means you need to understand your total tax liability--all of the various tax dynamics across the business and how they intersect—which can be a daunting task for even the most sophisticated organization.
Keep in mind that tax reform isn’t just a big deal for the finance and accounting department; it’s potentially transformational for your entire business. Companies on the verge of major strategic business decisions such as mergers, acquisitions, or restructurings, all need to seriously examine these decisions in light of tax reform.
Related Insight: Top 10 Things Companies Need to Know About Tax Reform
Your Custom Profile (Accounting for the changes in financial statements):
As taxation becomes increasingly complex, companies are also facing growing regulatory stringency on their financial statements and tax filings. In addition, tax reform has placed additional stress on already understaffed accounting departments, which means internal controls are not being as closely managed.
Companies need to demonstrate a clear understanding of complex tax and accounting rules to accurately account for and disclose their income tax accrual. A restatement or report of a material weakness is not only costly and time-consuming, but could also damage the credibility of your organization.
Related Insight: Tax Reform and ASC 740: 5 Things You Need to Know
As taxation becomes increasingly complex, companies are also facing growing regulatory stringency on their financial statements and tax filings. In addition, tax reform has placed additional stress on already understaffed accounting departments, which means internal controls are not being as closely managed.
Companies need to demonstrate a clear understanding of complex tax and accounting rules to accurately account for and disclose their income tax accrual. A restatement or report of a material weakness is not only costly and time-consuming, but could also damage the credibility of your organization.
Related Insight: Tax Reform and ASC 740: 5 Things You Need to Know
Your Custom Profile (Navigating international tax provisions):
U.S. tax reform ushered in a new era of international taxation, and other nations are likely to take responsive measure in the coming years. The EU has asked the OECD to fast-track review of the new U.S. laws, which may ultimately result in retaliatory measures.
For multinational companies, navigating the new regulations, many of which are still unclear, is critical to maximizing tax savings.
Related Insights: What Foreign-Derived Intangible Income Means to C Corporations, Tax Reform Deduction: What Foreign-Derived Intangible Income Means to C Corporations, BEAT & Tax Reform: What Companies Need to Know, and The GILTI Effect: Tax Reform and Global Intangible Low-Taxed Income
U.S. tax reform ushered in a new era of international taxation, and other nations are likely to take responsive measure in the coming years. The EU has asked the OECD to fast-track review of the new U.S. laws, which may ultimately result in retaliatory measures.
For multinational companies, navigating the new regulations, many of which are still unclear, is critical to maximizing tax savings.
Related Insights: What Foreign-Derived Intangible Income Means to C Corporations, Tax Reform Deduction: What Foreign-Derived Intangible Income Means to C Corporations, BEAT & Tax Reform: What Companies Need to Know, and The GILTI Effect: Tax Reform and Global Intangible Low-Taxed Income
Tax reform is making headlines, but it’s not the only tax issue companies are facing. What would you say is your biggest area of concern for tax planning this year?
Your Custom Profile (Implementing federal tax reform changes):
If tax reform changes are challenging your business, you’re not alone—72% of tax executives surveyed in the 2018 Tax Outlook Survey agree that tax reform is their greatest concern this year.
With guidance on many of the tax reform provisions still forthcoming, now is the time for companies to ensure they have a concrete strategy in place to handle the changes we know about, and prepare for the ones still to come.
Related Insights: Top Questions About the New Tax Law, After Reform, Tax Strategy Isn't One-Size-Fits-All, and Webinar Archive: Tax Executive Outlook After Tax Reform
If tax reform changes are challenging your business, you’re not alone—72% of tax executives surveyed in the 2018 Tax Outlook Survey agree that tax reform is their greatest concern this year.
With guidance on many of the tax reform provisions still forthcoming, now is the time for companies to ensure they have a concrete strategy in place to handle the changes we know about, and prepare for the ones still to come.
Related Insights: Top Questions About the New Tax Law, After Reform, Tax Strategy Isn't One-Size-Fits-All, and Webinar Archive: Tax Executive Outlook After Tax Reform
Your Custom Profile (Tax code changes at the state and local level):
Nearly 1 in 4 tax executives surveyed in our 2018 Tax Outlook Survey agree that state changes are their top concern.
Many states have already begun to make changes in response to federal reforms, and others will follow suit. Businesses should aim to stay on top of the ongoing tax debates in all the jurisdictions they’re in, and should develop a comprehensive and holistic strategy that marries federal, state, and even international reforms.
Related Insights: State Tax, The Next Tax Reform Frontier, 2018 Q2 Update on State Conformity to the Tax Cuts and Jobs Act, New York Budget Bill Responds to the Tax Cut, California Competes Tax Credit Program Extended and Application Periods Announced, New Jersey Enacts Comprehensive Corporation Business Tax Legislation Changes, Connecticut Enacts Pass-Through Entity Tax and Other Reponses to Federal Tax Reform, Kentucky Enacts Wide-Ranging Tax Reform, and North Carolina FY ’19 Budget Bill Enacts Major Corporate Income Tax Legislation
Nearly 1 in 4 tax executives surveyed in our 2018 Tax Outlook Survey agree that state changes are their top concern.
Many states have already begun to make changes in response to federal reforms, and others will follow suit. Businesses should aim to stay on top of the ongoing tax debates in all the jurisdictions they’re in, and should develop a comprehensive and holistic strategy that marries federal, state, and even international reforms.
Related Insights: State Tax, The Next Tax Reform Frontier, 2018 Q2 Update on State Conformity to the Tax Cuts and Jobs Act, New York Budget Bill Responds to the Tax Cut, California Competes Tax Credit Program Extended and Application Periods Announced, New Jersey Enacts Comprehensive Corporation Business Tax Legislation Changes, Connecticut Enacts Pass-Through Entity Tax and Other Reponses to Federal Tax Reform, Kentucky Enacts Wide-Ranging Tax Reform, and North Carolina FY ’19 Budget Bill Enacts Major Corporate Income Tax Legislation
Your Custom Profile (Technology changing the way taxation is imposed):
Technology has the power to help businesses transform their tax functions from cost centers to value centers, automating mundane and time-consuming processes and analyzing complex data sets to inform strategic decisions.
The question for many companies is knowing where to start. The key is to flip your thinking. Instead of focusing on specific technology features or tools, let your goals for value creation lead the way. Start with your high-level objective—whether it’s improving compliance, automating reporting or cutting costs— and work backwards from there, asking the question, “How will information transparency, availability and automation unlock business value to this capability?”
Related Insights: Technology Doesn’t Have to Be Taxing and Tax Transformation: Value Drivers of Change
Technology has the power to help businesses transform their tax functions from cost centers to value centers, automating mundane and time-consuming processes and analyzing complex data sets to inform strategic decisions.
The question for many companies is knowing where to start. The key is to flip your thinking. Instead of focusing on specific technology features or tools, let your goals for value creation lead the way. Start with your high-level objective—whether it’s improving compliance, automating reporting or cutting costs— and work backwards from there, asking the question, “How will information transparency, availability and automation unlock business value to this capability?”
Related Insights: Technology Doesn’t Have to Be Taxing and Tax Transformation: Value Drivers of Change
Your Custom Profile (Growing scrutiny on the taxation of foreign earnings):
We all know the world is getting smaller, and that means while opportunity overseas is increasing, businesses are subject to increasingly complex and ever-changing international tax laws.
With U.S. tax reform finally a reality, multinational companies are facing truly significant changes—as well as lingering uncertainty. The EU has asked the OECD to fast-track review of the new U.S. laws, which may ultimately result in retaliatory measures. Companies with international operations need to ensure they have a comprehensive international tax strategy in place, and increase their ability to pivot and make entity-wide changes when necessary.
Related Insights: Multinational Tax Reform Goes Beyond the Water’s Edge, Tax Reform Deduction: What Foreign-Derived Intangible Income Means to C Corporations, BEAT & Tax Reform: What Companies Need to Know, and The GILTI Effect: Tax Reform and Global Intangible Low-Taxed Income
We all know the world is getting smaller, and that means while opportunity overseas is increasing, businesses are subject to increasingly complex and ever-changing international tax laws.
With U.S. tax reform finally a reality, multinational companies are facing truly significant changes—as well as lingering uncertainty. The EU has asked the OECD to fast-track review of the new U.S. laws, which may ultimately result in retaliatory measures. Companies with international operations need to ensure they have a comprehensive international tax strategy in place, and increase their ability to pivot and make entity-wide changes when necessary.
Related Insights: Multinational Tax Reform Goes Beyond the Water’s Edge, Tax Reform Deduction: What Foreign-Derived Intangible Income Means to C Corporations, BEAT & Tax Reform: What Companies Need to Know, and The GILTI Effect: Tax Reform and Global Intangible Low-Taxed Income
How would you describe your strategy for implementing tax reform changes?
Your Custom Profile (Taking a proactive approach, modeling the impact to my business, moving quickly on any necessary changes.):
While proactive tax planning is a smart approach, guidance on tax reform changes is still being released, and other updates on the state and international fronts loom large.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, Tax Reform Planning Checklist, and The Brave New World of M&A and Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
While proactive tax planning is a smart approach, guidance on tax reform changes is still being released, and other updates on the state and international fronts loom large.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, Tax Reform Planning Checklist, and The Brave New World of M&A and Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
Your Custom Profile (Beginning discussions, but awaiting additional guidance from the IRS and Treasury Department.):
Despite the changes implemented by tax reform, a lot of details are still to be determined, making it difficult for many companies to update their long-term tax strategy.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, The Brave New World of M&A and Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
Despite the changes implemented by tax reform, a lot of details are still to be determined, making it difficult for many companies to update their long-term tax strategy.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, The Brave New World of M&A and Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
Your Custom Profile (Currently focusing on other business issues. We’ll begin planning for next year closer to tax season. ):
Tax season is always daunting, but it’s important for businesses to avoid taking a short-term view.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
Tax season is always daunting, but it’s important for businesses to avoid taking a short-term view.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
Your Custom Profile (Unsure. ):
The passage of the tax reform bill marks the biggest change to the tax code in decades, and many organizations are still figuring out how to best respond.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
The passage of the tax reform bill marks the biggest change to the tax code in decades, and many organizations are still figuring out how to best respond.
Regardless of your strategy to handle federal reforms, savvy companies should aim to integrate and understand all the ways tax impacts their business in order to identify areas of potential liability, and those of potential growth.
Related Insights: BDO Knows Tax Reform, 2018 Year-End Tax Planning for Businesses, and 2018 Year-End Tax Planning for Individuals
Puzzled by U.S. Tax Reform?
Corporate Tax Reform – Summary of New Laws
State and Local Tax Issues Presented by Federal Tax Reform
Tax Reform and Section 199A Deduction of Qualified Business Income of Pass-Through Entities
Impact of Tax Reform on Choice of Entity Determinations
Tax Analytics & Automation
Tax Reform Planning Checklist
Top 10 Things Companies Need to Know About Tax Reform
Tax Reform and ASC 740: 5 Things You Need to Know
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