Lana Lawrence, a CPA in Ennis, served as the guest speaker for the National Active and Retired Federal Employees Chapter 1191 Tuesday, March 13 at the Grand Ennis Buffet in Ennis.
Lawrence received her education at The University of Texas and Sam Houston State University. She has practiced as a CPA in Ennis for 25 years.
Lawrence discussed some of the fundamental changes in tax law brought about by the Tax Cuts and Jobs Act signed into law Dec. 22, 2017. Lowering the corporate rate, eliminating the personal exemption, raising the standard deduction, limitation on deductibility of state taxes, capping interest deductions, limiting the deductibility of fringe benefits and interest on home equity loans and projected the overall loss of revenue to the government were among the topics covered. The presentation was timely with the due date for submission of tax returns coming up April 17. A question-and-answer session followed the presentation.
National Active and Retired Federal Employees (NARFE) Chapter 1191 covers Ellis, Navarro and adjacent parts of the surrounding counties. Membership in NARFE is open to all active and retired federal employees and their spouses, former federal employees, and former spouses who are entitled to a federal survivor annuity.