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Thank you for helping us promote the Manufacturer’s Guide to Tax Reform Seminar on March 1st to your manufacturing clients. This seminar is specifically designed for the CEO & CFO level executives of manufacturing facilities, and Smith & Howard prefers that all service providers are accompanied by a manufacturer. I have attached a flyer about some of the items that will be covered in the seminar and below is the link with all of the details and to register. You are welcome to register your manufacturing client complimentary as your guest using the CHAPTER promo code.
THANKS for helping spread the word to our manufacturers about these important updates!
- Post T a x Reform: Changes are Coming for Manufactur e rsRegister T o day for Our T a x Refor m Bre akfast!Marc h 1st• 8:00am – 9:30am • T he Georgia Clubwww. GeorgiaManufacturingAlliance.comThe T a x Cuts and Jobs A ct is the largest change to U.S. tax policy in decades and most of it is set to gointo effect in 2018. Here are just a few key provisions affec ting manufacturers: Reduction of the Corporate T a x Rate: This is a huge win for manufacturers, reducing thetop corporate tax rate from 35% to 21%. Repeal of Corporate A lternative Mini mum T a x (AMT): Keeping the corporate A MTwould have made it difficult for businesses to reduce their eff ective corporate tax rate lowerthan 21%. Pass-Throug h T a x T r eatment: Raises the deduction available to pass-through filers to20%. This should be a net positive for the industry . Repeal of Domestic Produ ction Activities Deduction: Eliminate Ability t o Carryback Net Operating Losses: Immediate Expensing of Certain Capital Expenditures:Tackling T a x Reform: 4 Steps Manufacture rs Can Take N ow1. Assess impact. Engage your tax advisor in a review of your org aniza tion’ s specificcircumstances to assess the impact of each provision on your business.2. Assemble a team. Whi le the heaviest burden ma y fall on accountants, companies and theirfinance teams will have an important role to pla y to gather all the necessary data.3. Dig into the data. Assessing the impact of tax reform requires a substantial amount of data.Focus on data collection and computations as soon as possible. If you have an internationalpresence, bear in mind that some of the information needed could date back to 1987.Smith & Howard │ 271 17thStreet, N W │ Suite 1600 │ Atlanta, Georgia 30363www .smi th-howard .com
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