February Panel - Implications of the New Tax Laws
We're all confused right now. TRU accountant Dave Spaulding and financial consultant Bailie Slevin will guide us through the changes to the tax laws, as well as advise us on how to adjust our business practices and our expectations to what may be new thinking on the part of donors and supporters. Come with your own questions and concerns!
Join us for a look at the new tax laws with respect to organization & entity structure, tax rates and how the new law bleeds down to the individual, whether producer or performer. Apart from the rate changes, and substantial bracket swings, there are quite a number of other surprising things both incorporated in the new law as well as left out. There are major reductions in tax deductions at the entity level but a near elimination of miscellaneous itemized deductions on the individual level making it very difficult for the small employee-performer. The doubling of the standard deduction may help some, but there are no personal exemptions left in the tax code. We'll look at how the tax laws might impact donor giving, and alternate strategies for maintaining and possibly growing support. Has the target donor base changed because of the change in deductions? On the plus side, perhaps, there are benefits in the new law for the self-employed and small business owner of either a partnership or S-corporation that could reduce taxable income from these specific entities. Our speakers will guide you through this confusing government-imposed maze, and help manage expectations for artists.
Doors open at 7:00pm for networking and refreshments, roundtable introductions of everyone in the room will start at 7:30pm - come prepared with your best one-minute summary of who you are, and what you need. Free for TRU members; $12.50 for non-members in advance ($15 at door). Please use the bright red reservation box on this page, or call at least a day in advance (or much sooner) for reservations: 212-714-7628; or e-mail VFJVU3RhZmYxIHwgZ21haWwgISBjb20=
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