Page 10 - BB_July_2018

Build Your Legacy

Serve on the Board of Directors in 2019

The Greater San Antonio Builders Association is
accepting nominations to serve on the Board of
Directors from July 1st - August 31st, 2018.
Nominate a member who you believe will contribute

leadership to the Association for the next 3 years,
including yourself.
Eligibility for nomination requires a person to have
not served on the Board of Directors within the
last 12 months. All nominations must be received
by August 31, 2018.

The Association Membership will receive ballots by
September 14, 2018 to vote and select 4 Builder Directors
and 2 Associate Directors which will be sworn in at the
Holiday Gala on November 29, 2018.

If you are interested:
email ksutterfield@sabuilders.com to submit your nomination.

Expiring Provisions of the

Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (TCJA), signed into
law at the end of 2017 by President Trump, added
52 temporary provisions to the tax code that will
expire between this year and 2027. Directly tied to the benefits of that deduction
Nearly half of these expiring tax provisions will are individual income tax rates, all of which
lapse at the end of 2025, many of which are of were lowered by the TCJA. Without any further
most interest to the small business and housing legislative changes, tax rates will revert to their
community. pre-reform levels beginning in 2026.
Most corporate tax provisions were made In isolation, expiration of the business income
permanent in the TCJA, leaving tax cuts benefitting deduction and individual tax rate reductions
individuals and pass-through businesses on the would raise taxes on business owners. The
chopping block. Twenty-three provisions in the effects would be exacerbated if both expire as
new tax law relating to individual income taxes scheduled. In that case not only would taxpayers
are set to expire on Dec. 31, 2025. pay higher income tax rates, but more of their
As most home builders are organized as pass- income would become taxable.
through entities (i.e. LLCs, LLPs, S-corps), perhaps the It is possible – though highly uncertain – that
most important provision is the 20% deduction for future congresses could revisit the TCJA and
pass-through income, which allows individuals to consider changes before major provisions expire
deduct up to 20% of their “qualified business income.” at the end of 2025. NAHB JUNE 2018

10 JUNE 2018 | GREATER SAN ANTONIO BUILDERS ASSOCIATION