Tag Archives: pass-through

HR 1, too!

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We began discussing the proposed changes to personal tax filings yesterday.  We’ll finish with the changes to the individual tax system today-and then go on to the changes to the business tax filings.

Continue reading HR 1, too!

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HR 1

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Let’s reiterate what I said yesterday– I don’t expect this bill to pass.  Certainly not the way it was presented in the bill.  These posts were written on 2 November- when the bill was published.  Since then, the House has proposed changes to its own bill.  And, 1 week later, the Senate published a slightly different version- which means that I will be adding to this series to contrast the differences between the two bills.  (This series that was 5 blogs will now be 7.)

Continue reading HR 1

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Tax Rates- Pass Throughs and C’s

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Soooo.   You’ve heard it.  You know it.  Corporations all complain about that 35% tax rate- but few, if any, are paying taxes at that rate.  Big companies pay virtually ZERO % and middle-market companies pay 15 to 18%.  (By the way, a whole slew of single-owner corporations pay a mandated 35% tax rate!) And, our clients- the ones we convinced to form LLC’s and S entities to save on taxes want us to explain how come they are not paying taxes at the 15% to 18% rates. Continue reading Tax Rates- Pass Throughs and C’s

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