Harter Secrest & Emery LLP, a full-service business law firm with offices throughout New York, has launched a web page dedicated to helping companies understand how their businesses will be impacted by the tax reforms that were recently signed into law. The changes, the most sweeping overhaul of the United States tax code in more than 30 years, will take effect this year.
“Every business, no matter their size or industry, will be impacted by the tax reforms measures that were passed at the close of 2017,” said Joshua E. Gewolb, Harter Secrest & Emery partner and leader of the firm’s Tax group. “However, due to the complexity of the reforms and the rapid pace at which the measures were pushed through Congress, very few companies have a true understanding of what the reforms will mean for their business. Our new web page is a tool that can help business owners and financial professionals navigate the dramatic new tax landscape that lies on the horizon.”
The web page, www.hselaw.com/tax-reform, provides timely resources, insights and analysis to help business owners and financial professionals understand and plan for the new legislation. Features of the page include: tax reform highlights and links to the official Tax Reform Act; analysis on multiple aspects of the bills, including impacts on estate, gift and GST taxes, and considerations for compensation deductions in 2017; as well as information on upcoming educational events hosted by Harter Secrest & Emery attorneys, who will explain key provisions of the bill and the implementation timeline.
Harter Secrest & Emery will host special “Tax Reform: What You Need to Know” educational sessions in Rochester and Buffalo later this month. The Rochester event will take place on Thursday, January 18 at 8 a.m. at the firm’s Rochester office, 1600 Bausch & Lomb Place, 13th Floor. A second event will be held in Buffalo on Tuesday, January 30 at The Buffalo Club, 388 Delaware Ave. Registration information for each event can be found on the firm’s new Tax Reform web page.
According to Diana R. Clarkson, senior associate in the firm’s Tax practice, “the implications of tax reform go far beyond a change in a company’s tax rate. Business leaders will need to deal with changes in everything from how they compute income taxes for individuals to issues related to fringe benefits, pass through income, and executive compensation, and everything in between.”
Harter Secrest & Emery’s Tax attorneys monitor legislative and regulatory developments daily and understand how frequent and complex changes in tax laws impact changes to compliance programs and new approaches to tax reduction. The firm’s attorneys participate on policy-forming committees of bar associations. This level of expertise enables the Harter Secrest & Emery to speak with authority on critical tax issues, to formulate and implement appropriate tax strategies at the federal and state level, and to represent clients effectively in controversies with tax authorities. Harter Secrest & Emery’s attorneys’ writings are often published in respected publications, and the members of the firm’s Tax practice group regularly speak to regional and state audiences regarding tax matters. Harter Secrest & Emery’s clients include private companies, ranging from Fortune 500 to closely-help companies, public companies, not-for-profit organizations, and private equity funds and investors.