Tax Reform is Here: What You Need to Know to Advise Your Clients

By Jeramie Fortenberry, J.D., LL.M. (Taxation)
Director of Education
WealthCounsel, LLC

The most significant tax reform package of this generation is now awaiting the President’s signature and is widely expected to be signed into law at any time. The new tax law changes the tax planning landscape, creating both pitfalls and opportunities for attorneys and the clients they serve. It is critical for business and estate planning attorneys to understand these changes and how they affect their clients.

In this Thought Paper, Jeramie Fortenberry, JD, LLM, provides actionable guidance for planning under the new and different tax landscape. It includes a discussion of:

  • The new (but temporary) deduction for pass-through businesses and the related limitations that apply
  • Other significant changes to pass-through businesses, including loss limitations, repeal of the technical termination rules, and changes to electing small business trusts (ESTBs)
  • The flat 21-percent tax rate that applies to C corporations and how it affects the choice-of- entity decision
  • Limitations on common business deductions, including interest paid or accrued by businesses and net operating losses
  • Changes to individual taxation, including the doubled estate tax exemption and what it means for planners

To read the full article, download the full white paper below.


This complimentary White Paper is available courtesy of WealthCounsel, LLC.


The Ultimate Estate Planner has a number of educational programs related to the Tax Reform that you may be interested in.


jeramie-fortenberry-wealthcounselJeramie J. Fortenberry, J.D., LL.M. (Taxation) is a member of the Legal Education Faculty at WealthCounsel, LLC, and serves as the Executive Editor of WealthCounsel’s Business Docx drafting software. Jeramie is also an experienced practitioner in the areas of business formation and planning, taxation, estate planning, trust and estate taxation, and probate law. Before joining WealthCounsel’s staff, he advised companies and executives on a broad range of issues, including mergers and acquisitions, corporate, securities and commercial law, limited liability companies, and corporate governance. He has prepared hundreds of deeds for property transfers throughout the states of Mississippi, Alabama, and Florida. He has also worked with clients from across the United States with wills, trusts, probate, and gift and estate tax planning transfers

  • Education: JD, Tulane Law School; LLM, New York University School of Law
  • Associations: American Bar Association (Real Property, Trusts & Estates Section and Business Law Section); National Association of Estate Planners & Councils (NAEPC)


wealthcounsel-ultimate-estate-planner-affiliateWhether you’re starting, growing or enhancing a legal practice, joining WealthCounsel gives you the edge. You’ll have access to our renowned drafting tools, educational programs, and practice development resources – – all with the support of a nationwide member community. Our focus is on giving you the tools, information, and confidence to unlock the true potential of your practice.

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