On December 22, 2017 President Trump signed the Tax Cuts and Jobs Act (H.R. 1) into law. Included are a number of significant provisions that apply specifically to the insurance industry. While most corporate taxpayers may come out ahead under the new legislation, some insurance companies may not fare as well. Below is a summary of items of particular interest, most of which are effective for tax year 2018.

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The Tax Cuts and Jobs Act is the most significant change to the tax code in decades. We’ve highlighted areas of interest for our insurance clients, but the above list is not all-inclusive. If you have questions about the new law, please contact a member of the MCM Insurance Services Team or contact author Lauren Jolly, CPA via e-mail or phone at 502.882.4405.