In late 2017, Congress passed the Tax Cuts and Jobs Act, the most significant tax legislation to pass in several decades. The new law will have some significant effects on subcontracting organizations, their owners and employees over the course of the next several years including the simplification of several aspects of the tax code, rate reductions and others.
Richard Morris, CPA, MST, director of tax services at Councilor, Buchanan & Mitchell, P.C., and Tom Bailey, CPA, CVA, chair of the construction/real estate committee and a principal at the firm, are scheduled to lead a web-based presentation on this complex topic for the American Subcontractors Association. During a 90-minute webinar, they will discuss:
Morris and Bailey will also explain the impact of these changes and how they continue to affect the subcontracting industry. CBM, a mid-sized accounting and advisory firm that serves real estate and construction clients throughout the Mid-Atlantic region, hosted a series of presentations in early 2018 on the new legislation. Bailey also led the presentation for ASA of Metro Washington in January 2018.