Tag Archives: corporate taxes

The situation is becoming untenable

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Ah, yes.  The truth- and the dangers- are now becoming obvious.

The GOP was desperate to provide a benefit to their benefactors.   So, they lowered the corporate tax rates to a ridiculously low 21%.  Even though most corporations never paid the much bandied about 35% rate.  (Only professional corporations and small businesses got stuck with that level of taxes.  Big corporations always hid- and still do- their profits from the tax man.)

Continue reading The situation is becoming untenable

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And, now for the Senate Side

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So, what does the Senate version of this bill (HR-1) do?  By and large, the Senate bill matches HR-1.  But, there are some significant differences.  It’s not clear which house will prevail in their interpretation of the various changes (or that the Senate version passes at all).  But, again,  tax planning is critical-  we need to know what may happen.  We need to discern what changes this Senate version- if it passes- will have in conference, when the House and Senate work out the differences in their versions.

Continue reading And, now for the Senate Side

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