Gop tax plan and small business

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Gop tax plan and small business

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  • unlike a small business, the c corp is double taxed ( because its owners also pay a dividend and or a capital gains tax of 23. 8 percent on top of the 20 percent corporate tax) so the tax rate that. the republican tax plan targets a class of voters who have formed the core of the gop constituency since the age of lincoln, entrepreneurs and small business owners. this is the faulty logic of the gop' s tax plan.
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  • the tcja gives a 20% deduction to pass- through business, predicated on the belief that " pass through business" is synonymous with " small business.
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    with the gop' s proposed shift from a worldwide to territorial tax system, it won' t be small businesses who benefit, says cpa anne zimmerman. treasury secretary steven mnuchin made a pitch to small and medium- sized business owners on friday, saying they could expect the lowest tax rates in decades from the republican tax reform bills.


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