{"id":13428,"date":"2018-08-27T08:00:08","date_gmt":"2018-08-27T13:00:08","guid":{"rendered":"http:\/\/taxprocenter.proconnect.intuit.com\/?p=13428"},"modified":"2019-06-18T10:28:04","modified_gmt":"2019-06-18T15:28:04","slug":"5-ways-to-get-a-head-start-on-tax-reform-planning","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/","title":{"rendered":"5 Ways to Get a Head Start on Tax Reform Planning"},"content":{"rendered":"

The Tax Cuts and Jobs Act<\/a> presents both a challenge and an opportunity for tax professionals, according to Intuit\u2019s senior tax analyst.<\/p>\n

\u201cIt\u2019s a challenge just because of its sheer breadth,\u201d said Mike D\u2019Avolio, CPA, JD. \u201cBut it\u2019s also an opportunity to better serve clients by providing tax planning and advisory services.\u201d<\/p>\n

\u201cIt can run the gamut,\u201d he said. \u201cIt can be as simple as redoing the W-4 in light of the changes to available deductions, the elimination of the personal exemption and the major increase in the standard deduction. Or the advisor could do more sophisticated planning such as a choice of entity analysis \u2013 should a business be conducted as a C corporation, or a flow-through entity such as an S corporation or partnership.\u201d<\/p>\n

Small-business owners, in particular, have a lot to think about, so it\u2019s understandable that taxes may not always be front and center, D\u2019Avolio advised. \u201cHowever, with most major provisions of the Tax Cuts and Jobs Act being implemented in 2018, now is the time to start planning,\u201d he suggested.<\/p>\n

\u201cIt\u2019s the middle of summer, so there\u2019s plenty of runway,\u201d he said. \u201cIt\u2019s an excellent time to take a step back and educate yourself, your staff and your clients.\u201d<\/p>\n

D\u2019Avolio suggested five areas for planning to get a head start on 2018 taxes.<\/p>\n

1. New 20 percent deduction for qualified business income.\u00a0<\/b>\u201cOne of the key tax reform measures provides a 20 percent deduction beginning in tax year 2018 for income earned from sole proprietorships, limited liability companies, partnerships and S corporations,\u201d he observed. \u201cThe deduction begins to phase out at an income level of $315,000 for joint returns and can reduce the effective marginal rate to a 29.6 percent maximum. But wage income is not eligible for the lower rates on business income.\u201d
\n\u201cThis allows small-business owners to keep more earnings tax-free, and helps curb high rates because income flows through to individual returns. Individual rates are coming down, but small-business owners are getting hit with both sides of the self-employment tax. And the rate for C corporations \u2013 at 21 percent \u2013 is way down, so this helps pass-throughs be on a more level playing field with C corporations. It can get very complicated, and a lot of different limitations apply,\u201d he said.<\/p>\n

2. Entity planning.\u00a0<\/b>Now that the corporate tax rate has been lowered to 21 percent, it might be time to examine your clients\u2019 choice of entity, \u201cespecially if they are a high-earning professional service provider such as a doctor, lawyer, or investment manager,\u201d D\u2019Avolio suggested.<\/p>\n

\u201cEntity analysis is becoming more important. There could be tax savings in going from a flow-through to a C corporation because a C corporation now has the flat 21 percent tax rate,\u201d he said. \u201cThis opens the door to advanced entity planning.\u201d<\/p>\n

3. Depreciation benefits.\u00a0<\/b>If a client has been thinking about new upgrades, this is an area they need to know about,\u201d he said. Business owners are now allowed to fully write-off the entire cost of new purchases with 100 percent bonus depreciation, such as computers, furniture, equipment and vehicles, in lieu of depreciating the cost of the asset over a number of years. In prior years, you could deduct only 50 percent of the cost in year one. Under a companion measure, the Sec. 179 tax break has been doubled from $500,000 to $1,000,000, which represents the amount of assets you can deduct in the first year. \u201cBusiness property qualifying for this deduction has been expanded to now include fire protection, alarm systems and security systems. The depreciation limits that apply to vehicle purchases have also increased under the new law.\u201d<\/p>\n

4. Entertainment expenses.<\/b>\u00a0Business-related entertainment, amusement or recreation expenses are no longer deductible under the Tax Cuts and Jobs Act, D\u2019Avolio noted. While there is some ambiguity in this area, D\u2019Avolio, and most commentators, believe that business meals are still 50 percent deductible.<\/p>\n

The confusion results from the language of the act, which appears to pull all business meals under the entertainment umbrella. However, the Committee Report indicates that this is not what Congress had in mind.<\/p>\n

\u201cWe expect the IRS to address this area and clear up any confusion,\u201d D\u2019Avolio said.<\/p>\n

5. Credit for family and medical leave.\u00a0<\/b>As part of the TCJA, employers are now able able to claim a credit based on wages paid to qualifying employees while they are on family and medical leave, D\u2019Avolio observed. \u201cTo claim the credit you must have a written policy that provides at least two weeks of paid leave annually to all qualifying employees who work full time,\u201d he said.<\/p>\n

\u201cAdditionally, the paid leave must be no less than 50 percent of the wages normally paid to the employee. Be sure your small-business client sets up this policy early in the year so they can claim the credit come tax time,\u201d he said.<\/p>\n

Editor’s note:\u00a0<\/strong>This article was originally published in Accounting Today<\/em><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Find out from Mike D’Avolio, CPA, JD, about five opportunities to get ahead on planning for tax reform.<\/p>\n","protected":false},"author":107201888,"featured_media":10588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rkv_browse_by_id":0,"rkv_cta_id":0,"rkv_optimize_for_pagespeed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"useModifiedDate":false,"customPublishDate":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[509474089],"tags":[582953261],"intuit_collection":[],"intuit_series":[],"coauthors":[509474203],"class_list":["post-13428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-law-and-news","tag-tax-reform"],"header_image":"","yoast_head":"\n5 Ways to Start Tax Reform Planning<\/title>\n<meta name=\"description\" content=\"Give your clients a competitive advantage with 5 practical strategies to begin tax reform planning early, covering deductions, entity review, and timing decisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways to Get a Head Start on Tax Reform Planning - Tax Pro Center | Intuit\" \/>\n<meta property=\"og:description\" content=\"Give your clients a competitive advantage with 5 practical strategies to begin tax reform planning early, covering deductions, entity review, and timing decisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"Tax Pro Center | Intuit\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/IntuitAccountants\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-27T13:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-18T15:28:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"217\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Roger Russell, Accounting Today\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@IntuitAccts\" \/>\n<meta name=\"twitter:site\" content=\"@IntuitAccts\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Roger Russell, Accounting Today\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/\"},\"author\":{\"name\":\"Roger Russell, Accounting Today\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#\\\/schema\\\/person\\\/158696b6884c3c06026fde96b533867b\"},\"headline\":\"5 Ways to Get a Head Start on Tax Reform Planning\",\"datePublished\":\"2018-08-27T13:00:08+00:00\",\"dateModified\":\"2019-06-18T15:28:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/\"},\"wordCount\":822,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/accountant-with-clients.png\",\"keywords\":[\"Tax Reform\"],\"articleSection\":[\"Tax Law and News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/\",\"name\":\"5 Ways to Start Tax Reform Planning\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/accountant-with-clients.png\",\"datePublished\":\"2018-08-27T13:00:08+00:00\",\"dateModified\":\"2019-06-18T15:28:04+00:00\",\"description\":\"Give your clients a competitive advantage with 5 practical strategies to begin tax reform planning early, covering deductions, entity review, and timing decisions.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#primaryimage\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/accountant-with-clients.png\",\"contentUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/accountant-with-clients.png\",\"width\":400,\"height\":217,\"caption\":\"Accountant with clients\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/5-ways-to-get-a-head-start-on-tax-reform-planning\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"5 Ways to Get a Head Start on Tax Reform Planning\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#website\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/\",\"name\":\"Tax Pro Center | Intuit\",\"description\":\"Tax Pro Center\",\"publisher\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#organization\",\"name\":\"Tax Pro Center | Intuit\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Tax_Pro_Center_Logo_Final_large.webp\",\"contentUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Tax_Pro_Center_Logo_Final_large.webp\",\"width\":872,\"height\":160,\"caption\":\"Tax Pro Center | Intuit\"},\"image\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/IntuitAccountants\",\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/IntuitAccts\",\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/intuitaccountants\\\/?hl=en\",\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/company\\\/intuit-accountants\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#\\\/schema\\\/person\\\/158696b6884c3c06026fde96b533867b\",\"name\":\"Roger Russell, Accounting Today\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/avatar\\\/96b91bf0ea48ef71b680280ebd079b95d6be0dadb4deccfdcd85a789194d4b88?s=96&d=identicon&r=g\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/avatar\\\/96b91bf0ea48ef71b680280ebd079b95d6be0dadb4deccfdcd85a789194d4b88?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/avatar\\\/96b91bf0ea48ef71b680280ebd079b95d6be0dadb4deccfdcd85a789194d4b88?s=96&d=identicon&r=g\",\"caption\":\"Roger Russell, Accounting Today\"},\"description\":\"Roger Russell is a tax attorney and a legal and accounting journalist with expertise across a wide spectrum of tax, legal and accounting issues. He has written and co-authored articles in tax journals and newsletters, and has contributed to prominent tax research services. He is senior editor for tax at Accounting Today, a SourceMedia publication.\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/author\\\/taxpro60\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"5 Ways to Start Tax Reform Planning","description":"Give your clients a competitive advantage with 5 practical strategies to begin tax reform planning early, covering deductions, entity review, and timing decisions.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/","og_locale":"en_US","og_type":"article","og_title":"5 Ways to Get a Head Start on Tax Reform Planning - Tax Pro Center | Intuit","og_description":"Give your clients a competitive advantage with 5 practical strategies to begin tax reform planning early, covering deductions, entity review, and timing decisions.","og_url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/","og_site_name":"Tax Pro Center | Intuit","article_publisher":"https:\/\/www.facebook.com\/IntuitAccountants","article_published_time":"2018-08-27T13:00:08+00:00","article_modified_time":"2019-06-18T15:28:04+00:00","og_image":[{"width":400,"height":217,"url":"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png","type":"image\/png"}],"author":"Roger Russell, Accounting Today","twitter_card":"summary_large_image","twitter_creator":"@IntuitAccts","twitter_site":"@IntuitAccts","twitter_misc":{"Written by":"Roger Russell, Accounting Today","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#article","isPartOf":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/"},"author":{"name":"Roger Russell, Accounting Today","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#\/schema\/person\/158696b6884c3c06026fde96b533867b"},"headline":"5 Ways to Get a Head Start on Tax Reform Planning","datePublished":"2018-08-27T13:00:08+00:00","dateModified":"2019-06-18T15:28:04+00:00","mainEntityOfPage":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/"},"wordCount":822,"commentCount":0,"publisher":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#organization"},"image":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png","keywords":["Tax Reform"],"articleSection":["Tax Law and News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/","url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/","name":"5 Ways to Start Tax Reform Planning","isPartOf":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#website"},"primaryImageOfPage":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#primaryimage"},"image":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png","datePublished":"2018-08-27T13:00:08+00:00","dateModified":"2019-06-18T15:28:04+00:00","description":"Give your clients a competitive advantage with 5 practical strategies to begin tax reform planning early, covering deductions, entity review, and timing decisions.","breadcrumb":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#primaryimage","url":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png","contentUrl":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png","width":400,"height":217,"caption":"Accountant with clients"},{"@type":"BreadcrumbList","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/5-ways-to-get-a-head-start-on-tax-reform-planning\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/accountants.intuit.com\/taxprocenter\/"},{"@type":"ListItem","position":2,"name":"5 Ways to Get a Head Start on Tax Reform Planning"}]},{"@type":"WebSite","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#website","url":"https:\/\/accountants.intuit.com\/taxprocenter\/","name":"Tax Pro Center | Intuit","description":"Tax Pro Center","publisher":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/accountants.intuit.com\/taxprocenter\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#organization","name":"Tax Pro Center | Intuit","url":"https:\/\/accountants.intuit.com\/taxprocenter\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#\/schema\/logo\/image\/","url":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-content\/uploads\/2022\/10\/Tax_Pro_Center_Logo_Final_large.webp","contentUrl":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-content\/uploads\/2022\/10\/Tax_Pro_Center_Logo_Final_large.webp","width":872,"height":160,"caption":"Tax Pro Center | Intuit"},"image":{"@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/accountants.intuit.com\/taxprocenter\/IntuitAccountants","https:\/\/accountants.intuit.com\/taxprocenter\/IntuitAccts","https:\/\/accountants.intuit.com\/taxprocenter\/intuitaccountants\/?hl=en","https:\/\/accountants.intuit.com\/taxprocenter\/company\/intuit-accountants\/"]},{"@type":"Person","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/#\/schema\/person\/158696b6884c3c06026fde96b533867b","name":"Roger Russell, Accounting Today","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/accountants.intuit.com\/taxprocenter\/avatar\/96b91bf0ea48ef71b680280ebd079b95d6be0dadb4deccfdcd85a789194d4b88?s=96&d=identicon&r=g","url":"https:\/\/accountants.intuit.com\/taxprocenter\/avatar\/96b91bf0ea48ef71b680280ebd079b95d6be0dadb4deccfdcd85a789194d4b88?s=96&d=identicon&r=g","contentUrl":"https:\/\/accountants.intuit.com\/taxprocenter\/avatar\/96b91bf0ea48ef71b680280ebd079b95d6be0dadb4deccfdcd85a789194d4b88?s=96&d=identicon&r=g","caption":"Roger Russell, Accounting Today"},"description":"Roger Russell is a tax attorney and a legal and accounting journalist with expertise across a wide spectrum of tax, legal and accounting issues. He has written and co-authored articles in tax journals and newsletters, and has contributed to prominent tax research services. He is senior editor for tax at Accounting Today, a SourceMedia publication.","url":"https:\/\/accountants.intuit.com\/taxprocenter\/author\/taxpro60\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png","jetpack_shortlink":"https:\/\/wp.me\/pazjGh-3uA","jetpack-related-posts":[{"id":13857,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/choice-of-entity-calculator-for-qualified-business-income-deduction\/","url_meta":{"origin":13428,"position":0},"title":"New and Improved: Intuit’s QBI Entity Selection Calculator","author":"Mike D'Avolio, CPA, JD","date":"January 18, 2019","format":"video","excerpt":"Use this calculator to help your small business clients determine which entity type is right for them based on based on tax reform, including the 20 percent QBI deduction.","rel":"","context":"In "Tax Law and News"","block_context":{"text":"Tax Law and News","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/tax-law-and-news\/"},"img":{"alt_text":"tax professional with clients","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/tax-professional-with-clients-e1535552307798.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/tax-professional-with-clients-e1535552307798.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/tax-professional-with-clients-e1535552307798.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11785,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/client-relationships\/how-to-guide-your-clients-through-tax-reform-changes\/","url_meta":{"origin":13428,"position":1},"title":"How to guide your clients through tax reform changes","author":"Mike D'Avolio, CPA, JD","date":"January 2, 2019","format":false,"excerpt":"Strengthen your role as your clients' trusted advisor by guiding them through tax reform changes.","rel":"","context":"In "Client Relationships"","block_context":{"text":"Client Relationships","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/client-relationships\/"},"img":{"alt_text":"Accountant with clients","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/10\/accountant-with-clients.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":22743,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/creating-an-s-corporation-entity-can-reduce-self-employment-tax\/","url_meta":{"origin":13428,"position":2},"title":"Creating an S corporation entity can reduce self-employment tax","author":"Jim Buffington, CPA","date":"April 7, 2021","format":false,"excerpt":"Learn how sole proprietors may be able to reduce Social Security and Medicare taxes by creating an S corporation and paying a salary to the owner. Jim Buffington, CPA, explains","rel":"","context":"In "Tax Law and News"","block_context":{"text":"Tax Law and News","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/tax-law-and-news\/"},"img":{"alt_text":"S Corp","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/04\/S-Corps.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/04\/S-Corps.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/04\/S-Corps.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/04\/S-Corps.jpeg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":12699,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/practice-management\/5-tips-for-better-tax-planning\/","url_meta":{"origin":13428,"position":3},"title":"5 tips for better tax planning","author":"Jim Buffington, CPA","date":"June 1, 2018","format":false,"excerpt":"Jim Buffington, CPA, explains how tax reform presents an opportunity to increase your value as a trusted advisor for your clients through proactive tax planning.","rel":"","context":"In "Practice Management"","block_context":{"text":"Practice Management","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/practice-management\/"},"img":{"alt_text":"tax accountant","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/09\/credential-e1535552844673.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/09\/credential-e1535552844673.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/09\/credential-e1535552844673.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":26653,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/helping-your-clients-determine-their-form-of-ownership-entity-planning-for-businesses\/","url_meta":{"origin":13428,"position":4},"title":"Helping your clients determine their form of ownership","author":"David K. Boatswain, CPA","date":"October 7, 2022","format":false,"excerpt":"In this informative and educational article, David K. Boatswain, CPA, reviews the benefits and limitations of various entity structures.","rel":"","context":"In "Advisory Services"","block_context":{"text":"Advisory Services","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/advisory-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2022\/10\/Helping-your-clients-determine-their-form-of-ownership-Entity-planning-for-businesses.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2022\/10\/Helping-your-clients-determine-their-form-of-ownership-Entity-planning-for-businesses.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2022\/10\/Helping-your-clients-determine-their-form-of-ownership-Entity-planning-for-businesses.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2022\/10\/Helping-your-clients-determine-their-form-of-ownership-Entity-planning-for-businesses.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":15112,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/taxprotalk-pub-535-tax-planning-and-educating-clients\/","url_meta":{"origin":13428,"position":5},"title":"TaxProTalk: Pub. 535, Tax Planning and Educating Clients","author":"Jim Buffington, CPA","date":"February 1, 2019","format":"video","excerpt":"Anthony and Jim share three updates in this episode of TaxProTalk, including an update on Pub. 535.","rel":"","context":"In "Tax Law and News"","block_context":{"text":"Tax Law and News","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/tax-law-and-news\/"},"img":{"alt_text":"Tax Pro Talk","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2019\/02\/TaxProTalk.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2019\/02\/TaxProTalk.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2019\/02\/TaxProTalk.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/posts\/13428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/users\/107201888"}],"replies":[{"embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/comments?post=13428"}],"version-history":[{"count":3,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/posts\/13428\/revisions"}],"predecessor-version":[{"id":16581,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/posts\/13428\/revisions\/16581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/media\/10588"}],"wp:attachment":[{"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/media?parent=13428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/categories?post=13428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/tags?post=13428"},{"taxonomy":"intuit_collection","embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/intuit_collection?post=13428"},{"taxonomy":"intuit_series","embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/intuit_series?post=13428"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/accountants.intuit.com\/taxprocenter\/wp-json\/wp\/v2\/coauthors?post=13428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}