Sean K. Quigley, CPA Speaks on Tax Cuts and Jobs Act

Pensacola, FL. - Sean K. Quigley, Pensacola Certified Public Accountant, offered his analysis and commentary earlier this month on the Tax Cuts and Jobs Act at Pensacola LEADers, the city's oldest networking group. He discussed some of the opportunities and pitfalls of the Act as it applies to individual and business taxpayers. The new law contains the broadest, most sweeping changes to tax law since the Tax Reform Act of 1986.

"The Tax Cuts and Jobs Act reduces tax rates for both corporations and individuals and adds a new deduction for pass-through business income that hopefully will serve to stimulate economic growth. It also makes taxpayer-friendly changes to the Alternative Minimum Tax and doubles the estate tax exemption," said Quigley.

"There is also another side to the coin, however, as the act also eliminates or curtails many widely-used deductions, including home mortgage interest and state and local taxes,” Quigley advises. “My goals are to get people thinking now about what will impact the tax returns they file next year, and to explore with them what actions will enable them to take full advantage of the opportunities Congress has given us."

Sean K. Quigley joined Brown Thornton Pacenta and Company in 2005 and was promoted to partner in 2009. He has over 25 years of experience in public accounting, with clients in many different industries. He acts as a trusted advisor to his clients regarding accounting, tax, and other business-related matters.

Further information about Sean K. Quigley, CPA, can be found on his website at www.pensacolacpas.com or by calling (850) 512-2244.

Pensacola Leaders meets each Wednesday morning at the Saenger Theater on Palafox Street in Pensacola. More information on the group can be found at www.pensacolaleaders.com.