Fringe Benefit Changes Impact UBIT

At the end of 2017, there was a lot of debate and political posturing about how to pass tax reform. Concerns about which individual and business tax incentives should be eliminated, bolstered and changed dominated the media. While it was clear the overall focus was on a broad tax reduction, it was the resolution of specific details that created the challenge. There were many important changes to the tax code including an overall reduction in the tax rate, the introduction of the qualified business income deduction and changes to the meals and entertainment deduction.