Federal Tax Changes a Boon to Attorneys

Reed Smith LLP didn’t know if the new federal tax law would be passed when it began the process of hiring five new attorneys for its state tax group, but practice group leader Lee Zoeller said the timing couldn’t have been better.

“The new law will certainly ensure that our lawyers are busier than expected,” he told Big Law Business.

For Zoeller and his colleagues, the biggest looming question is how states will respond to the legislative changes, such as those capping the amount of local taxes taxpayers can write off on their annual returns and expanding bonus depreciation to ...