Business Planning Opportunities After Tax Reform

The new tax laws have answered many of the concerns and wishes of the business community—reducing corporate tax rates, providing business deductions, and fine tuning business-related sections of the tax code. They will likely create opportunities, along with some challenges, over the coming months and years which may require businesses to make decisions in a number of different areas. Key issues and planning opportunities business owners may want to address are entity evaluation, buy-sell agreements, estate planning, profit distributions, executive compensation, and nonqualified deferred compensation.