Tax reform will have extensive impact on the business climate in the near and long term, with companies focused on navigating many changes and nuances, in addition to new risk and compliance challenges.

Brian Newman, tax partner at CohnReznick, and Joy Matak, tax director at CohnReznick, recently sat down with Inside Counsel to discuss the seismic shift of the landscape and specific tax reform developments. He shared changes related to the tax landscape, including the impact on trusts and estates, state and local tax, international tax, the not-for-profit area and changes related to executive compensation.

The reduction of tax rates for corporations and individuals should have a positive impact on the economy for the foreseeable future, according to Newman. With a significantly lower corporate tax rate, businesses will be prone to reinvest in infrastructure, hire more employees and increase their dividends to shareholders. A larger workforce armed with more disposable income means more spending–and for any company selling product, spending is the key ingredient in fueling growth. 

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.