Tax Planning: Update for Business Owners

We just completed a long, tumultuous presidential election, and the only thing that remains certain still is death and taxes. To a great extent, we do not know if and how a Trump presidency will affect the federal tax system. President-elect Trump campaigned on the promise of lowering the top corporate tax rate from 35%, to 15%. He also promoted the idea of allowing owners of small businesses the option to elect a flat tax of 15% on pass-through income. Read more…