Real Estate Journal — Pennsylvania — March 16 - 29, 2018 — Inside Back Cover C
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M id A tlantic
Lehigh Valley Chapter www.crewlehighvalley.org Commercial Real Estate Women
CREWLehighValleyReviews theNewTax Law Center Valley, PA —CREWLehigh Valley’s Val- entine to members and guests was an early morning seminar on the new tax law. Presented by CREW member Denise Hozza, CPA, CVA a director with Concannon Miller Certi- fied Public Accountant and Jane Spradlin, CPA a Concan- non shareholder, the February 14th breakfast session at Penn State Lehigh Valley hit high- lights of the law. They noted that while the law has been passed, regulations have yet to be written. Presenters Denise Hozza, CPA, CVA and Jane Sprandlin, CPA including membership dues. Excess business losses are disallowed.
2018 L ehigh V alley B oard of D irectors P resident B etsy S chamberger , M oonstone E nvironmental P resident -E lect J ulie M acomb N orris M c L aughlin , N orris , M c L aughlin & M arcus , P.A. P ast P resident K ristin H olmes H olmes C unningham E ngineering S ecretary M arie M c C onnell F itzpatrick L entz & B ubba , P.C. T reasurer J ennifer K eat T ubiello –H arr & A ssociates , LLC C orresponding S ecretary C aitlin E nglish , D uke R ealty D irector - at -L arge D irector - at -L arge S haron M ichael , QNB D elegate J ulie P rofilet -S aucier KCBA A rchitects C ommittee C hairs F oundation C hampion K aren D uerholz B oyle C onstruction
There are seven tax brackets for individual payers that are in effect until 1/1/26, with 10% continuing to be the withhold- ing level for the lowest earn- ers, but most other brackets show a relief of two to three percent. Single and married filers receive a more generous standard deduction, but fami- lies lose the personal exemp- tion of $4,050 per individual. However, the child tax credit is raised from $1,000 to $2,000 per child for households with income up to $400,000, effec- tive through 12/31/25. The two presenters reviewed information and ran through sample scenarios and urged the attendees to review their status with their own financial experts. n
In answer to a question from the audience, Ms. Spradlin said that C Corps are the real winners in the tax law change, with the tax rate lowered to 21%. Corporate taxes repealed after 12/31/17 include the Al- ternative Minimum Tax and the Domestic Production Ac- tivities deduction. Among the points made by the presenters, depreciation schedules are more generous through 2022, increased from 50% to 100% for qualified property. In 2023, a three-year deduction phase out begins, losing 20% per year. New limitations include the loss of deductions for cli- ent entertainment expenses,
L isa O liver M embership D arlene P ors S ara F inney M iller P rograms F rancee F uller S tephen D avis P ublicity K aisha R osa N atalia S tezeko
Join CREW LV for Three Great Spring Events March 22 - The Boomer Generation’s Impact on Real Estate April 18 - Tour of Tower 6, Downtown Allentown May 16- Exclusive Tour & Reception Vault 34 Full details & registration information at the event section of www.crewlehighvalley.org
2018 SPONSORS Gold: BB&T • Concannon Miller • Liberty Property Trust • Duke Realty • PennCap Properties • Norris, McLaughlin &Marcus Pennoni • Fitzpatrick Lenz & Bubba • Servpro • City Center Allentown Patron: Keat Tax Accounting & Solutions • Boyle Construction • ECSI • Newmark Grubb Knight Frank • Capstan Tax Strategies Friend: Gross McGinley,LLP • Hanna Frederick Commercial • Fox Rothschild LLP • NAI Summit Campbell Rappold & Yurasits, LLP • K&H Window Treatment • QNB Contributor: Barry Isett & Associates • Buckno Lisicky & Company • The Knoll Source Feinberg Real Estate Advisors • Holmes Cunningham Engineering • HMK Insurance • KCBA Architects RCN • Moonstone Environmental • Spillman Farmer Architects • Langan Engineering • JG Petrucci Co.
S ocial M edia A bby M artin
C ommunity S ervice C assidy F laherty F or membership information contact : D arlene P ors drpors @ htlyons . com
Attention CREW Lehigh Valley Members!!! If you would like to advertise in the Mid Atlantic Real Estate Journal, Please Contact: Miriam Buttrick, Publisher 781-740-2900 x203 or email Miriam at mbuttrick@marejournal.com
SURVEY • ENVIRONMENTAL CIVIL • TRAFFIC ENGINEERING Everything you need to turn a prospective deal into a done deal MULTI-DISCIPLINE ENGINEERS AND CONSULTANTS
Francee Fuller ffuller@barryisett.com
610.398.0904 barryisett.com
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