November 30, 2018
Click here to view seminar agenda
Taylor Porter Partner and tax practice leader John McDermott will present, "Overview & the Impacts of the Tax Cuts and Jobs Act of 2017," at the LABI Beyond The Bar seminar, to be held Monday, Dec. 3, at L'Auberge Baton Rouge. The presentation will take place at 1:30 p.m. in Ballroom A.
The event is a day-long seminar focused on breaking down the Capitol's impact on businesses across Louisiana and explaining the politics and legislation of various industry fields. Attendees will hear from distinguished lawyers, business experts and policy specialists, focusing on the changes made by the courts, Legislature and regulators. Representing more than 2,000 employers, LABI serves its broad membership by working towards the singular goal of fostering a climate for economic growth through consistently championing the principles of the free enterprise system. LABI sets the standard for advocacy, providing policymakers with the information and perspective necessary to advance sound public policy that supports strong economic growth. LABI is Louisiana’s official state chapter for the U.S. Chamber of Commerce and the National Association of Manufacturers.
On December 20, 2017, Congress passed a significant tax reform act commonly referred to as the Tax Cuts and Jobs Act (H.R. 1). The act was designed to cut taxes on individuals and businesses, stimulate the economy, and create jobs. To estimate the impact the 2017 Tax Cuts and Jobs Act has on individuals, McDermott created a tax analysis worksheet. By using your 2017 or 2016 tax information to complete the survey, a summary report will be generated to estimate the changes to your taxable income and tax liability under the new tax law. (Note: The best way to complete this report is to open the Excel document from the link; click "Enable Editing"; do a "Save As" to your desktop; and then enter in the numbers to the saved file to your computer. Access to Excel on your device is required.)
McDermott has more than 35 years' experience in his primary practice area of taxation, including business and individual income tax, payroll tax, franchise tax, excise tax, ad valorem tax, sales and use tax, and gift and estate tax. He has assisted tax-exempt organizations in making application for, obtaining, and maintaining status under IRC section 501(c). He has represented individuals, business entities, trusts, and estates with controversies before the IRS examinations and appeals, US District Court, US Court of Appeals for the Fifth Circuit, the Louisiana Department of Revenue, the Louisiana Board of Tax Appeals, and parish and municipal taxing authorities.
McDermott is ranked among Louisiana Super Lawyers and Best Lawyers in Tax Law. In 2017, McDermott chaired the Internal Revenue Service Advisory Council’s Small Business/Self-Employed and Wage & Investment Subgroup. McDermott practiced in the tax department of an international CPA firm for five years in New Orleans and Washington, D.C. McDermott is a Board Certified Tax Law Specialist, Louisiana Board of Legal Specialization, and he is a certified public accountant. He served on the examination committee for the Tax Law Advisory Commission of the Louisiana Board of Legal Specialization and is an assistant bar examiner for the Louisiana State Bar Association.