Businesses and individuals continue to struggle to grasp the full impact of – and develop tax-efficient strategies under – the landmark 2017 Tax Cuts and Jobs Act (Tax Act). See “New Tax Law Carries Implications for Private Funds” (Feb. 1, 2018). A recent program presented by Baker Tilly Virchow Krause addressed the key provisions of the Tax Act that affect private fund managers and their principals and offered insight into how they are reacting to the Tax Act. The program featured Baker Tilly senior tax manager Gregory Kastner, and this article summarizes his insights. For additional recent insight from Kastner and Baker Tilly on the Tax Act, see “How the Tax Cuts and Jobs Act Will Affect Private Fund Managers and Investors” (Feb. 22, 2018). For further commentary from Kastner, see “Ways Fund Managers Can Compensate and Incentivize Partners and Top Performers” (Dec. 14, 2017).