Mark Anderson Presenting “How Suburban Businesses Will Change to Take Advantage of the New Tax Law”

01.25.18

On Thursday, February 15, 2018, Mark D. Anderson will present “How Suburban Businesses Will Change to Take Advantage of the New Tax Law” at a seminar presented by the DuPage Foundation.

Registration, networking and breakfast will begin at 7:15 a.m., with Mark’s presentation following from 7:50 a.m. to 9 a.m.

Seminar Description

The new tax law, known as the Tax Cut and Jobs Act, was signed into law on December 22, 2017. Most of the new provisions took effect on January 1, 2018. While the IRS has not issued any meaningful guidance on the details of the new legislation, many businesses are already changing the way they operate in order to maximize available tax benefits under the new law.

While numerous ideas are being considered, some will actually catch on and become the "new normal." One of the biggest changes is the creation of a deduction for up to 20% of the Qualified Business Income ("QBI") of an S Corporation, an LLC or a sole proprietorship (including all independent contractors). To maximize this deduction, and to take advantage of other aspects of the new law, this program will address:

  • Alternative Structures for Compensation and Ownership:
    • Will S Corporations pay smaller salaries to owners in order to increase profits/QBI?
    • How will a decision to pay smaller salaries change bank loan agreements?
    • Will more incentive compensation arrangements involve grants of ownership interests?
    • What entity provides more benefits; S Corporations or LLCs?
    • Will professional practices bifurcate into professional and non-professional divisions?
  • How will service firms (accountants, attorneys, financial advisors) change their ownership structure?
  • Who will be limited by the business interest expensing limitations?
  • Will more S Corporations and LLCs convert to C Corporation status?
  • Can you now admit foreign investors into an S Corporation?
  • What gift did "Gig" workers receive under the new law?
  • How will the new depreciation rules interact with the new limitations on NOLs?
  • How will the new larger lifetime exemptions for estate and gift transfers change succession planning?
  • How can you best plan your charitable giving to take advantage of the larger standard deduction and limitations on itemized deductions?

Location

DuPage Foundation
3000 Woodcreek Drive, Suite 310
Downers Grove, IL 60515

Continuing Education Credit

This program has been approved for 1 hour of CFA and CPE credit and is being submitted to the CFP Board, the MCLE Board and the Institute of Certified Bankers for 1 hour of continuing education credit. Participants will be notified once the credit approvals have been received.

Registration

Space for this program is limited to 40 registrants.

CLICK HERE to register.

About the Speaker

Mark Anderson represents real estate developers, privately held corporations, limited liability companies, and family enterprises consisting of various corporations, LLCs and trusts in a wide range of tax and general business law matters. He also maintains an estate planning practice, which is a value-added service to business owners and their families.

Mark has provided general business representation, tax and financing advice in connection with numerous business acquisitions and mergers, structuring of new business formations, long-term operating businesses, multi-family housing real estate developments, shopping centers and hotels. This representation has involved private and publicly owned corporations, employee pension funds and their investment advisors, and numerous syndicated and non-syndicated partnerships, joint ventures, limited liability companies and S-corporations.

He also has extensive experience in tax planning and trust and estate administration on behalf of business owners and their families, coordinating tax planning with efficient business operations. These planning services are provided within the framework of maintaining family plans for income and asset distribution, economic control and asset protection.

In addition to his core tax and estate planning practice, Mark enjoys working on complex LLC operating agreements and is a frequent speaker on this subject, as well as asset protection planning and related matters.

About the DuPage Foundation

The DuPage Foundation was established in 1986 to raise the quality of life throughout DuPage County. The Foundation serves the community by helping area residents and organizations realize their unique charitable goals, providing impactful support to its community’s not-for-profits, and fostering key partnerships to address critical issues affecting DuPage County.

As a 501(c)(3) public charity, the Foundation receives contributions and bequests from individuals, corporations, organizations and foundations looking to make a difference for the community and the causes about which they are most passionate. Since its inception, the Foundation has grown to nearly $90 million in assets and awarded nearly $35 million in grants to not-for-profit agencies serving the residents of DuPage County and beyond.



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