ENTERTAINERS TO LOSE SIGNIFICANT TAX DEDUCTIONS UNDER TAX REFORM

The benefits to entertainers of forming a loan-out company through which to conduct business are likely to become much more enticing when the so-called Tax Cut and Jobs Act (the “Tax Reform Bill”) is signed into law.  Indeed, the Tax Reform Bill will suspend all miscellaneous itemized deductions for the 2018 through 2025 tax years, cutting off a substantial means of entertainers to minimize their tax liability.    

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Philip Taylor