Beth Kaufman Comments on New Tax Law Prompting Growth at Law Firms
The Tax Cuts and Jobs Act (P.L. 115-97) has only been in place for a month, but firms are already seeing signs that it will spur more demand for their services that could lead to increased hiring as clients try to adjust their tax plans in response to sweeping changes affecting passthrough businesses and corporations.
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“Those laws are complex and may provide new planning opportunities in cross-border planning for businesses and individuals,” she said. Caplin & Drysdale, which Kaufman described as a tax boutique, is one of the firms that expects to add tax attorneys this year.
Kaufman said she also expects to see the estate and gift tax practice as a potential growth area “among clients who can afford to use the temporarily increased exemptions from gift and generation-skipping transfer taxes.”
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Excerpt taken from the article “New Tax Law Already Prompting Growth at Many Law Firms” by Zoe Sagalow for Tax Notes.