The Memphis Business Journal’s Table of Experts discussion for March 2016 focused on Tax & Investments. Eustis Corrigan, Senior Managing Director for the Memphis Office of CBIZ & MHM served as the tax panelist. Other panelists included Becky Bridgmon of Morgan Stanley and Staci Jackson of Paragon Bank.
Moderated by Bryce Corporation’s CFO Ramon Marus, the discussion started off with a reference to the ‘year of uncertainty’ in 2016. Eustis shared how businesses are strengthening their balance sheets and making wise investments in the midst of an ‘uncertain year’ with a potential recession ahead. When asked about changes in the tax law that could affect businesses this year, Eustis mentioned the PATH Act, R&D tax credit, Section 179 deduction, and charitable distribution change with IRAs.
Specifically referencing the R&D tax credit, Corrigan stated “In a year of uncertainty, we have more certainty long term because many tax credits are now permanent. It used to be that the credit would get close to expiring each year and taxpayers and accounting firms would be on pins and needles waiting for Congress to extend it. Now it’s permanent.”
In further discussion, Eustis shared how current tax laws are affecting them, the tax advantages of 401k participation, and the importance of strategy in tax planning.
To read the full discussion from the experts, click here.
If you have any further questions for Eustis Corrigan, contact him at 901.685.5575 or firstname.lastname@example.org.