Breakout Session D: Considerations for Converting Business Structures

The 2017 Tax Act presents planning opportunities around the choice of entity. Existing clients with pass through entities like S-Corporations and LLCs need to consider if maintaining this status is prudent given the changes in the tax law. In the past C-Corporations considered elections to become pass through entities to avoid two tiers of tax. What is best for a particular client situation will challenge past convention on choice of entity as optimization is dependent on facts and circumstances. This session will cover the 2017 Tax Act changes with respect to choice of entity taxation and highlight planning considerations for family offices that are either pass-through or regarded taxable entities. Case studies will illustrate the planning situations that clients are facing and the steps they are taking to optimize their entity structures going forward.