Insights
Firm News

What Trump's Tax Plan Could Mean for Your California Business

May 12, 2017 Media Coverage

San Francisco Business Times
May 12, 2017
"What Trump's Tax Plan Could Mean for Your California Business"

Brian Donnelly, a tax partner and firm chair at Farella Braun + Martel, commented on what the White House's proposed federal tax plan could mean for California businesses.

In the article, Mr. Donnelly said, "The lower federal rates could offset itemized deductions, meaning that a California taxpayer’s final tax bill may "end up essentially the same. Importantly, all itemized deductions, except for mortgage interest and charitable contributions, would go away under the Trump plan." 

All the experts in the article cautioned businesses should take a wait-and-see approach. "Take a deep breath and buckle in for a long, and likely strange, ride. Major federal tax changes are difficult to implement under any circumstances, and at this point the White House has many differences with the Republican-controlled Senate and House and even more differences with the Democrats," Mr. Donnelly said.  

Click here to read the full article (subscription required)

 

Firm Highlights

Publication

Navigating the Opportunity Zone Program

A new economic development tool created to stimulate investment in low-income communities known as “Opportunity Zones” has been attracting attention of investors, developers and business owners alike.  The Opportunity Zone Program emerged as part...

Read More
Publication

Treasury Department Guidance Will Stimulate Opportunity Fund Investments

The Opportunity Zones Program (OZ Program) aims to infuse capital into low-income communities known as qualified opportunity zones (QOZs) by offering tax-advantaged investments benefiting electing Qualified Opportunity Fund (QOF) investors including: A temporary deferral...

Read More
News

Farella Represents Morphe Founders in Sale to General Atlantic

Read More
Publication

Legal Ins and Outs of 'Opportunity Zones' — So Far

A new tax incentive intended to stimulate investment in low-income communities known as opportunity zones has attracted significant attention from investors, developers, and business owners since its enactment under Section 1400Z-2 of the Internal...

Read More
Event

CalCPA: Wine Industry Conference

Lauren Gilbreth will present the session "Succession Planning" at the CalCPA - Wine Industry Conference. The ever dynamic wine industry is fraught with complicated tax, labor and accounting issues. Please join us as we...

Read More
News

Lysondra Ludwig Selected to Leadership San Francisco

Read More
News

Farella Braun + Martel Attorneys Recognized in The Best Lawyers in America© 2020

Read More
Publication

Opportunity Zone Program Drives Investments to Low-Income Communities

Read More
Event

Women in Cleantech & Sustainability

Lysondra Ludwig will speak at the WCS Talks - a full day TED-Style event and startup pitch competition hosted by Google.

Read More