Thomas J. Nichols

Thomas J. Nichols

Attorney Profile

Top Rated Business & Corporate Attorney in Milwaukee, WI

Meissner Tierney Fisher & Nichols S.C.
 | 111 East Kilbourn Avenue, 19th Floor
Milwaukee, WI 53202
Phone: 414-273-1300
Fax: 414-273-5840
Selected To Super Lawyers: 2009 - 2020
Licensed Since: 1979
Practice Areas:
  • Business/Corporate (40%),
  • Tax: Business (30%),
  • Mergers & Acquisitions (30%)
    Attorney Profile

    Mr. Nichols has been practicing at Meissner Tierney Fisher & Nichols S.C. since 1979, specializing in business, tax and estate planning matters.  For over 40  years, he has been actively involved in a wide range of matters, including substantial merger and acquisition transactions, expert testimony, tax planning and significant litigation affecting the businesses and owners he represents.  His experience and practice have involved in-depth work in many areas, including the following: business formation, tax defense and refund claims, manufacturing firms, noncompete disputes, health care, real estate, private foundations, insurance company formation and regulation, business succession, physician groups, investment firms, restaurant businesses, qualified plans, software companies, distributorships and probate.

    White Papers

  • Wisconsin Pass-Through Entity Tax-Saving Opportunity Now Available to Partnerships (2020) - 2017 Wisconsin Act 368, a bill sponsored and championed by Sen. Howard Marklein, CPA, contains provisions that allow pass-through entities—including S corporations, partnerships, limited liability companies and other entities treated as partnerships under the Internal Revenue Code—to elect to be taxed at the entity level.  While S corporations could take advantage of the potential tax savings afforded by the Act for their 2018 taxable years, these opportunities are newly available to partnerships for their 2019 taxable years. Co-Authored with James DeCleene. 

  • Wisconsin Pass-Through Entity Tax-Saving Opportunity (2018) - Included among the bills just passed by the Wisconsin legislature was new 2017 Wisconsin Act 368, https://docs.legis.wisconsin.gov/2017/related/acts/368. This Act contains provisions, which were sponsored and championed by Sen. Howard Marklein, a certified public accountant, that allow pass-through entities (S corporations, as well as partnerships, limited liability companies and other entities treated as partnerships under the Internal Revenue Code) to elect to be taxed at the entity level.

  • (2007) - Substantive Contributor, ABA Section of Taxation Comments on Treatment of Open Account Debt of S Corporations (August 31, 2007)

  • (2006) - Primary Draftsperson, Amicus Curiae brief submitted at the request of Court of Appeals in the case of Estate of James H. Matteson v. Robert R. Matteson, Nancy L. Matteson and Matteson Communications (October, 2006)

  • (2006) - Substantive Contributor, ABA Section of Taxation Comments on Additional Options to Improve Tax Compliance Prepared by the Staff of the Joint Committee on Taxation (August 3, 2006)

  • (2001) - Member, Drafting Subcommittee, Wisconsin Cross-Species Merger and Conversion Provisions of Governor's Next Economy Legislation, (2001 Wis. Act 44)

  • (1999) - Substantive Contributor, ABA Section of Taxation Comments on Proposed Regulations under Section 1361(b)(3) on the Treatment of Corporate Subsidiaries of S Corporations (August 19, 1999)

  • (1997) - Substantive Contributor, ABA Section of Taxation Comments Concerning Guidance under Section 1361(b)(3) on treatment of Qualified Subchapter S Subsidiaries (August 8, 1997)

  • (1996) - Substantive Contributor, ABA Section of Taxation Comments Concerning Regulations under Section 1377 of the Internal Revenue Code of 1986; Proposed July 11, 1995 (PS-268-82) (S Corporation Pass-Through Allocation Rules) (March 8, 1996)

  • (1995) - Substantive Contributor, ABA Section of Taxation Comments on S. 758 104th Cong. 1st Sess. (1995); Proposed S Corporation Reform Act of 1995 (June 30, 1995)

  • (1995) - Recommendations on Wisconsin's adoption of Limited Liability Company Law (Wis. Stats. Chapter 183, enacted in 1993 Wis. Act 112) (February 7, 1995) (Note: Several of these recommendations were enacted as amendments to the Wisconsin statutes, 1999 Wis. Act 400)

  • (1994) - Substantive Contributor, ABA Section of Taxation Comments Concerning Proposed Regulation under Section 701 of the Internal Revenue Code of 1986 (Partnership Anti-Abuse Rule) (July 7, 1994)

  • (1993) - Substantive Contributor, ABA Section of Taxation Comments on Proposed Regulations under Section 1374 (Built-In Gains Tax) (1993)

  • (1993) - Substantive Contributor, ABA Section of Taxation Comments Concerning Proposed Regulations under Section 1363(d) of the Internal Revenue Code of 1986 (LIFO Recapture) (October 18, 1993)

  • (1992) - Primary Draftsperson, ABA Section of Taxation Comments Concerning Proposed Regulations under Sections 1361(b)(1)(D), (c)(4) and (5) of the Internal Revenue Code of 1986 (Single Class of Stock Rules) (February 11, 1992)

  • (1992) - Principal Responsibility, ABA Section of Taxation Comments Concerning Proposed Regulations under Sections 1367 and 1368 of the Internal Revenue Code of 1986 (S Corporation Basis, Distributions) (1992)

  • (1992) - Principal Responsibility, ABA Section of Taxation Comments Concerning Notice of Proposed Rulemaking (PS-260-82), Definition of Passive Investment Income Issued (April 17, 1992)

  • (1991) - Principal Responsibility, ABA Section of Taxation Comments Concerning Regulations under Sections 1366, 1367 and 1368 of the Internal Revenue Code of 1986 (S Corporation Passthroughs, Basis, Distributions) (September 11, 1991)

  • (1990) - Substantive Contributor, ABA Section of Taxation Comments on Temporary Regulation 18.1366-5 (Calendar Taxable Year Transition Rule) (1990)

  • (1988) - Substantive Contributor, ABA Section of Taxation Comments on Passive Activity Loss Regulations (Proposed and Temporary Regulations Sec. 1.469) (May 31, 1988)

  • (1988) - Co-Primary Responsibility, ABA Section of Taxation Comments on Regulatory Proposals under Section 1374 of the Internal Revenue Code of 1986, as amended (Built-In Gains Tax) (March 11, 1988)

  • (1987) - Recommendations on federalization of Wisconsin's S Corporation Statutes (Subchapter V and other provisions of Wis. Stats. Chap. 71) (June 22, 1987) (Note: The large majority of these recommendations were adopted as amendments to the Wisconsin statutes, 1987 Wis. Act. 92, and/or incorporated into Wisconsin Dept. of Revenue Publication 102, "Wisconsin Tax-Option Corporations and Their Shareholders")

  • (1987) - Final Draftsperson, ABA Section of Taxation Comments on Proposed Treasury Regulations Section 1.1361-1A (S Corporation Shareholder Eligibility Requirements) (May 20, 1987)

  • About Thomas Nichols

    Admitted: 1979, Wisconsin

    Professional Webpage: http://www.mtfn.com/attorneys/attorney.php?ID=8

    Honors/Awards:

    • Best Lawyers in America (Tax Law) - 1997-2020, The Best Lawyers in America, Best Lawyers, 2019
    • Wisconsin Super Lawyers® (2009 - 2019), Wisconsin Super Lawyers, Super Lawyers, 2019
    • Martindale Hubbell AV® Preeminent™ Peer Review Rated, Martindale Hubbell AV® Preeminent™ Peer Review Rated
    • American Institute of Certified Public Accountants, American Institute of Certified Public Accountants
    • Elijah Watts Sells Award Winner, CPA Exam

    Special Licenses/Certifications:

    • Certified Public Accountant, 1983

    Bar/Professional Activity:

    • State Bar of Wisconsin: Director, Business Law Section (2002 - 2009); Chairman, Unincorporated Businesses Committee (limited liability companies and partnerships) (2000 - present); Legislative Committee (1997 - 2002); Business Law Committee (1995 - 1996)
    • National Health Lawyers Association (1995 - present)
    • S Corporation Association:  Director (2018 - present); Chairman, Board of Advisors (2012 - 2018)
    • American Bar Association: Committee on S Corporations (Section of Taxation): Chair (2008 - 2010), Vice-Chair (2004 - 2008); Liaison, Limited Liability Company Task Force/Subcommittee (2000 - 2004); Chair, Subcommittee on Comparison of S Corporations with other Pass-Thru Entities (1994 - 2004); Chair, Subcommittee on Proposed and Temporary Regulations (1991 - 1994); Committee on Partnerships (2001 - present); Member (1987 - present)
    • American Institute of Certified Public Accountants
    • Milwaukee Bar Association (1979 - present)
    • Member (1983 - present) and Past Chairman (1989 - 1991), Wisconsin Taxation Committee of Wisconsin Institute of Certified Public Accountants
    • The Group, Inc. (2002 - present)

    Pro bono/Community Service:

    • Mentor, Nativity Jesuit Middle School
    • Tutor, Milwaukee Academy of Science, Sarah Scott Middle School

    Scholarly Lectures/Writings:

    • ABA Section of Taxation S Corporation Committee, Midyear Tax Meeting, Speaker, Section 1202 Entity Selection Considerations, ABA Section of Taxation S Corporation Committee, Midyear Tax Meeting, 2019
    • Multistate Taxation of Pass-Through Entities, Recent Developments in Wisconsin and Other States, Speaker, Multistate Taxation of Pass-Through Entities, Recent Developments in Wisconsin and Other States, Wisconsin PTA Tax Panel/Wisconsin State Local Tax Club, 2019
    • ABA Section of Taxation, S Corporation Committee, May Tax Meeting in Washington D.C., Speaker, Section 199A Regulations, ABA Section of Taxation, S Corporation Committee, 2019
    • Section 1202 Entity Selection Consideration, Speaker, Section 1202 Entity Selection Consideration, The Group Annual Meeting, 2019
    • Moderator, ABA Section of Taxation, S Corporation Committee Panelist, State Bar of Wisconsin, Moderator, Choice of Entity Under the 2017 Tax Act, ABA Section of Taxation Committee on S Corporations, 2018
    • Qualification for Section 1202 Treatment, Speaker, Qualification for Section 1202 Treatment, Professional Institute of Tax Study, Inc. , 2018
    • Speaker, 67th Tulane Tax Institute, Tulane University, Speaker, Choice of Entity after the TCJA, 67th Tulane Tax Institute, Tulane University, 2018
    • Testimony before Congress, Washington D.C., Testimony, Testimony before Congress: IRS Hearing re: 1099A Comments, Testimony before Congress, 2018
    • Panelist, Section 199A Proposed Regulations: Important Considerations, Panelist, Section 199A Proposed Regulations: Important Considerations, American Bar Association, Section of Taxation, 2018
    • Presenter, Understanding the New Guidance on Section 199A, Presenter, Understanding the New Guidance on Section 199A, ABA Webinar, 2018
    • Speaker, Subchapter S Eligibility Requirements; Consideration of C Corporation; Planning for Ineligible Shareholders, Speaker, Subchapter S Eligibility Requirements; Consideration of C Corporation; Planning for Ineligible Shareholders, NYU School of Professional Studies, Subchapter S Institute , 2018
    • Look Back: 2016 Tax Court Regular Opinions, Speaker, Speaker, Look Back: 2016 Tax Court Regular Opinions, Professional Institute of Tax Study, 2017
    • Discussion Panelist at the Tax Foundation in Washington D.C., Discussion Panelist, The Tax Code as a Barrier to Entrepreneurship, Tax Foundation, Washington D.C., 2017
    • Presentation at Milwaukee Startup Week 2016, Presenter, Choosing an Entity for Tax Purposes, Milwaukee Startup Week 2016, 2016
    • Presentation to the American Bar Association, Section of Taxation, Presenter, The Impact of the Proposal Section 385 Regulations on S Corporations, American Bar Association, Section of Taxation, 2016
    • Pass-through businesses play a significant role in the United States economy. They account for 95 percent of all businesses, more than 60 percent of all business income, and more than 50 percent of all employment. However, much of the attention on tax reform focuses on the corporate tax code. It’s crucial, though, that any tax reform proposal needs to go beyond just the corporate code and reform the individual tax code to help grow all of America’s businesses., Panelist, Pass-through Business and Comprehensive Tax Reform: Designing Tax Reform to Grow All U.S. Business, Capitol Hill Panel Discussion, 2015
    • Testimony, Tax Extenders and Small Businesses as Employers of Choice, U.S. House of Representatives Committee on Small Business (December, 2015), Testimony, Tax Extenders and Small Business as Employers Choice, U.S. House of Representatives Committee on Small Business, 2015
    • Co-Author, Tax Reform Should Go Right Down Main Street, Wall Street Journal (January 2015), Co-Author, Tax Reform Should Go Right Down Main Street, Wall Street Journal, 2015
    • Speaker, "Fundamentals of S Corporations, Passthrus, Distributions and Basis: A Workbook of Examples Covering the Fundamentals of S Corporation Operations and Planning Opportunities" (Accounting  Continuing Professional Education Network "ACPEN") (November 19, 2008), Speaker, Fundamentals of S Corporations, Passthrus, Distributions and Basis: A Workbook of Examples Covering the Fundamentals of S Corporation Operations and Planning Opportunities, Accounting  Continuing Professional Education Network, 2008
    • Moderator and Panelist, "Charitable Contribution Technical Amendment" (ABA Section of Taxation Committee on S Corporations) (May 9, 2008), Moderator and Panelist, Charitable Contribution Technical Amendment, ABA Section of Taxation Committee on S Corporations, 2008
    • Speaker, "Cross Species Mergers and Conversions Involving C Corporations, S Corporations, Partnerships and LLC's" (New York University 67th Institute on Federal Taxation; New York: October 22, 2008; San Diego, November 12, 2008), Speaker, Cross Species Mergers and Conversions Involving C Corporations, S Corporations, Partnerships and LLC's, 2008
    • Moderator, "New Charitable Giving Incentives for S Corporations under the Pension Protection Act of 2006" (ABA Section of Taxation Committee on S Corporations) (January 19, 2007), Moderator, New Charitable Giving Incentives for S Corporations under the Pension Protection Act of 2006, ABA Section of Taxation Committee on S Corporations, 2007
    • Moderator and Panelist, "Book-Tax Reconciliation for S Corporations & Partnerships Proposed: New Schedule M-3" (ABA Section of Taxation Committee on S Corporations) (May 5, 2006), Moderator and Panelist, Book-Tax Reconciliation for S Corporations & Partnerships Proposed: New Schedule M-3, ABA Section of Taxation Committee on S Corporations, 2006
    • Moderator, "Nuts and Bolts of S Corporations: Pass-Throughs, Distributions and Dispositions; Regulatory Guidance and Unanswered Questions" (ABA Section of Taxation Committee on S Corporations) (May 20, 2005), Moderator, Nuts and Bolts of S Corporations: Pass-Throughs, Distributions and Dispositions; Regulatory Guidance and Unanswered Question, ABA Section of Taxation Committee on S Corporations, 2005
    • Moderator, "Nuts and Bolts of S Corporations: Pass-throughs, Distributions and Dispositions; Regulatory Guidance and Unanswered Questions" (ABA Section of Taxation Committee on S Corporations) (September 16, 2005), Moderator, Nuts and Bolts of S Corporations: Pass-throughs, Distributions and Dispositions; Regulatory Guidance and Unanswered Questions, ABA Section of Taxation Committee on S Corporations, 2005
    • Panelist, "Shareholder Agreement/Partnership Agreement" (ABA Section of Taxation Committee on S Corporations) (January 21, 2005), Panelist, Shareholder Agreement/Partnership Agreement, 2005
    • Planning with the Flow-Through and Distribution Rules under Subchapter S (New York University 63rd Institute on Federal Taxation - Chapter 14) (Matthew Bender & Company, Inc. 2005), Planning with the Flow-Through and Distribution Rules under Subchapter S, 2005
    • Panelist, "Buy-Sell Agreements for LLCs and S Corporations" (ABA Section of Taxation Committee on S Corporations) (March 30, 2005), Panelist, Buy-Sell Agreements for LLCs and S Corporations, 2005
    • Cross‑Species Mergers and Conversions (Journal of Pass-Thru Entities, 2005), Cross‑Species Mergers and Conversions, 2005
    • Speaker, "Planning with the Flow-Through and Distribution Rules under Subchapter S" (New York University 63rd Institute on Federal Taxation) (October 20, 2004), Speaker, Planning with the Flow-Through and Distribution Rules under Subchapter S, 2004
    • What Type of Entity Should I Be: C Corp., S Corp., LLC or Something Else Entirely? (Wisconsin Lawyer, Vol. 1, 2004), What Type of Entity Should I Be: C Corp., S Corp., LLC or Something Else Entirely?, 2004
    • Speaker, "What Type of Entity: C Corp., S Corp., LLC or Something Else?" (State Bar of Wisconsin) (May 5, 2004), Speaker, What Type of Entity: C Corp., S Corp., LLC or Something Else?, 2004
    • Panelist, "Cross-Species Mergers and Conversions Involving C Corporations, S Corporations, Partnerships and LLCs" (ABA Section of Taxation Committee on S Corporations) (May 9, 2003), Panelist, Cross-Species Mergers and Conversions Involving C Corporations, S Corporations, Partnerships and LLCs, 2003
    • Panelist, "Planning for After-Tax Results Without the Benefit of Before-Invest Rules" (The Group, Inc.) (January 15, 2003), Panelist, Planning for After-Tax Results Without the Benefit of Before-Invest Rules, 2003
    • Speaker, "Tax Consequences of Cross-Species Mergers and Conversions" (State Bar of Wisconsin-Annual Tax School Seminar) (December 5, 2002), Tax Consequences of Cross-Species Mergers and Conversions, 2002
    • Speaker, "Tax Simplification" (Meissner Tierney Fisher & Nichols S.C. Symposium) (April 30, 2002), Speaker, Tax Simplification, 2002
    • Panelist, "Website Project for Multi-State Tax Guide" (ABA Section of Taxation Committee on S Corporations) (October 18, 2002), Panelist, Website Project for Multi-State Tax Guide, 2002
    • Speaker, "Wisconsin's Next Economy Legislation; Tax Consequences of Cross-Species Mergers and Conversions" (State Bar of Wisconsin-Madison) (October 4, 2002), Speaker, Wisconsin's Next Economy Legislation; Tax Consequences of Cross-Species Mergers and Conversions, 2002
    • Next Economy Legislation: Allowing Complex Business Reorganizations (Wisconsin Lawyer, 2002), Next Economy Legislation: Allowing Complex Business Reorganizations, 2002
    • Panelist, "State and Local Tax Issues Affecting S Corporations" (ABA Section of Taxation Committee on S Corporations) (May 11, 2001), Panelist, State and Local Tax Issues Affecting S Corporations, 2001
    • Panelist, "The Life Cycle of a Limited Liability Company - The Middle Ages" (Corporate Practice Institute) (December 12, 2001), Panelist, The Life Cycle of a Limited Liability Company - The Middle Ages, 2001
    • Panelist, "State Taxation of Qualified Subchapter S Subsidiaries" (ABA Section of Taxation Committee on S Corporations) (May 12, 2000), Panelist, State Taxation of Qualified Subchapter S Subsidiaries, 2000
    • Speaker, "Favorable New Developments in the Income Tax Treatment of Plaintiffs' Attorneys' Fees and Expenses: Planning and Drafting Retainer and Settlement Agreements to Optimize Results for You and Your Client" (Milwaukee Bar Association) (March 14, 2000), Speaker, Favorable New Developments in the Income Tax Treatment of Plaintiffs' Attorneys' Fees and Expenses: Planning and Drafting Retainer and Settlement Agreements to Optimize Results for You and Your Client, 2000
    • Panelist, "Proposed Section 1366 Regulations" (ABA Section of Taxation Committee on S Corporations) (January 15, 1999), Panelist, Proposed Section 1366 Regulations, 1999
    • Panelist, "Doing Business in Wisconsin - Recent Trends, Historical Perspectives, and a Look to the Future" (Meissner Tierney Fisher & Nichols S.C. Symposium) (October 28, 1998), Panelist, Doing Business in Wisconsin - Recent Trends, Historical Perspectives, and a Look to the Future, 1998
    • Speaker, "Tax Planning for Hospital-Based Physician Groups" (Milwaukee Bar Association) (October 22, 1998), Speaker, Tax Planning for Hospital-Based Physician Groups, 1998
    • Moderator, "Doing Business in Canada" (ABA Section of Taxation Committee on S Corporations) (July 31, 1998), Moderator, Doing Business in Canada, ABA Section of Taxation Committee on S Corporations, 1998
    • Speaker, "State and Federal S Corporation Issues" (Wisconsin Institute of Certified Public Accountants Annual Tax Conference) (November 6, 1997), Wisconsin Institute of Certified Public Accountants Annual Tax Conference, State and Federal S Corporation Issues, Wisconsin Institute of Certified Public Accountants Annual Tax Conference, 1997
    • Speaker, "The New Rate System, C Corporations, Personal Service Corporations" (Meissner Tierney Fisher & Nichols S.C. Symposium) (October 10, 1997), Speaker, The New Rate System, C Corporations, Personal Service Corporations, 1997
    • Client Presentation, "Maximizing Tax Savings From Your Individual Service Corporation" (March 4, 1997), Client Presentation, Maximizing Tax Savings From Your Individual Service Corporation, 1997
    • Client Presentation, "Estate Planning" (October 1, 1996), Client Presentation, Estate Planning, 1996
    • Moderator and Panelist, "Choice of Entity and Limited Liability Companies" (Corporate Practice Institute) (December 7, 1994), Moderator and Panelist, Choice of Entity and Limited Liability Companies, Corporate Practice Institute, 1994
    • Speaker, "Liability Audit for Business Owners" (Meissner Tierney Fisher & Nichols S.C. Symposium) (March 19, 1994), Speaker, Liability Audit for Business Owners, 1994
    • Client Presentation, "Estate Planning for Physicians" (December 7, 1993), Client Presentation, Estate Planning for Physicians, 1993
    • Panelist, "Wisconsin's Limited Liability Company Statute" (Corporate Practice Institute) (December 2, 1993), Panelist, Wisconsin's Limited Liability Company Statute, (Corporate Practice Institute), 1993
    • Reducing Current Gain from Installment Sales of S Corporation Assets, Journal of S Corporation Taxation (Warren Gorham Lamont, 1992), Reducing Current Gain from Installment Sales of S Corporation Asset, 1992
    • Speaker, "The Revised S-Corp. Second Class of Stock Regulations; What's Left to Worry About?" (Milwaukee Bar Association) (May 29, 1992), Speaker, The Revised S-Corp. Second Class of Stock Regulations; What's Left to Worry About?, Milwaukee Bar Association, 1992
    • Panelist, "S Corporations: The Revised Second Class of Stock Regulations" (UWM Tax Association) (November 19, 1991), Panelist, S Corporations: The Revised Second Class of Stock Regulations, UWM Tax Association, 1991
    • Panelist, "Tax Law Update" (Corporate Practice Institute) (December 7, 1990), Panelist, Tax Law Update, Corporate Practice Institute, 1990
    • Speaker, "Tax Savings with S Corporations" (Wisconsin Institute of Certified Public Accountants) (September 11, 1990), Speaker, Tax Savings with S Corporations, Wisconsin Institute of Certified Public Accountants, 1990
    • Speaker, "Passive Activities and S Corporations" (Wisconsin Institute of Certified Public Accountants) (August 8, 1989), Speaker, Passive Activities and S Corporations, Wisconsin Institute of Certified Public Accountants, 1989
    • Speaker, "Wisconsin's New S Corporation Rules" (Wisconsin Institute of Certified Public Accountants Annual Tax Conference) (November 10, 1988), Speaker, Wisconsin's New S Corporation Rules, Wisconsin Institute of Certified Public Accountants Annual Tax Conference, 1988
    • Speaker, "Corporations: Tax Planning Techniques" (Wisconsin Institute of Certified Public Accountants) (October 6, 1988), Speaker, Corporations: Tax Planning Techniques, Wisconsin Institute of Certified Public Accountants, 1988
    • Speaker, "Buy/Sell Agreements for S Corporations" (Estate Counselor's Forum) (September 2, 1987), Speaker, Buy/Sell Agreements for S Corporations, 1987
    • Moderator and Contributor, "S Corporations and Tax Planning Techniques" (Wisconsin Institute of Certified Public Accountants) (January, 1986), Moderator and Contributor, S Corporations and Tax Planning Techniques, 1986
    • S v. C Decision Maker Software Program (Aardvark/McGraw-Hill, 1986), S v. C Decision Maker Software Program, 1986
    • Tax Return Treatment of Original Issue Discount on Tax Exempt Obligations (Wisconsin CPA - December, 1984), Tax Return Treatment of Original Issue Discount on Tax Exempt Obligations, 1984

    Representative Clients:

    • Town Bank, 2019

    Other Outstanding Achievements:

    • Testimony Before Congress:  IRS Hearing re: 1099A Comments (Washington, D.C.), 2018
    • Testimony Before the Subcommittee on Economic Growth, Tax, and Capital Access, Committee on Small Business, U.S. House of Representatives (Washington, D.C.) Regarding the Role Closely Held Businesses Play as Employers, 2015
    • Chairman, Partnership Committee, Wisconsin Revised Uniform Partnership Law (2015 Wis. Act 295), 2015
    • Testimony Before House Ways & Means Subcommittee on Select Revenue Measures; Hearing on Ways & Means Small Buusiness Tax Reform and Pass-Through Entity Discussion Draft (Washington, D.C.), 2013
    • Member, Drafting Subcommittee, Wisconsin Cross-Species Merger and Conversion Provisions of Governor's Next Economy Legislation (2001 Wis. Act 44), 2001
    • Primary Draftsperson, ABA Section of Taxation Comments Concerning Proposed Regulations under Section 1361(b)(1)(D), (c)(4) and (5) of the Internal Revenue Code of 1986 (Single Class of Stock Rules) (February 11, 1992), 1992
    • Principal Responsibility, ABA Section of Taxation Comments Concerning Proposed Regulations under Sections 1367 and 1368 of the Internal Revenue Code of 1986 (S Corporation Basis, Distributions) (1992), 1992
    • Recommendations regarding Wisconsin's Limited Liability Company Law (Wis. Stats. Chapter 183,) (February 7, 1995) (Note: Several of these recommendations were enacted as amendments to the Wisconsin statutes, 1999 Wis. Act 400), 1995
    • Primary Draftsperson, ABA Section of Taxation Comments Concerning Regulations under Sections 1366, 1367 and 1368 of the Internal Revenue Code of 1986 (S Corporation Passthroughs, Basis, Distributions) (September 11, 1991), 1991
    • Recommendations on federalization of Wisconsin's S Corporation Statutes (Subchapter V and other provisions of Wis. Stats. Chap. 71) (June 22, 1987) (Note: The large majority of these recommendations were adopted as amendments to the Wisconsin statutes, 1987 Wis. Act. 92, and/or incorporated into Wisconsin Dept. of Revenue Publication 102, "Wisconsin Tax-Option Corporations and Their Shareholders"), 1987

    Videos:

    • Testimony, Tax Extenders and Small Businesses as Employers of Choice, U.S. House of Representatives Committee on Small Business (December, 2015), Tax Extenders and Small Businesses as Employers of Choice, 2015
    • Attorney Tom Nichols, head of the corporate, tax and transactional team at Meissner Tierney Fisher & Nichols, a Milwaukee based law firm addresses a question that many entrepreneurs and business owners face, "What type of entity should my business choose for income tax purposes?" These so-called "choice of entity" issues are important for startup enterprises, but they can be even more important for successful, established businesses., Why Businesses Choose S Corporation Status?, 2016
    • President and Shareholder, Tom Nichols, with the Milwaukee, Wisconsin law firm of Meissner Tierney Fisher & Nichols S.C. discusses legal business structure considerations when going into business with a partner. Whether it is with one or more other individuals, the most important aspect is to choose your partners wisely. However, even then, it is still critical to back that up with legal documentation that fosters good faith cooperation and, if necessary, provides for termination of the relationship on terms that are fair and with as little contention and ill will as possible. Tom addresses common legal structure issues like, corporate governance, decision-making legal structures, hiring and firing, non-compete agreements and property ownership., Going Into Business With a Partner, 2016

    Educational Background:

    • Certified Public Accountant, 1983
    • J.D. Marquette University Law School, 1979
    • B.A. (honors, summa cum laude) Marquette University, 1976

    Industry Groups

    • Accounting And Law Firms
    • Billing
    • Charitable Organizations
    • Construction
    • Distributorships
    • Equipment Maintenance
    • Health Care
    • Insurance Agents
    • Insurance Companies
    • Manufacturing
    • Physician Groups
    • Publishing
    • Real Estate
    • Restaurants
    • Securities And Investment Firms
    • Social Services
    • Software
    • Venture Capital
    Show More
    Office Location for Thomas J. Nichols

    111 East Kilbourn Avenue
    19th Floor
    Milwaukee, WI 53202

    Thomas J. Nichols:

    Last Updated: 6/24/2020

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