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Pass-Through Tax Cut May Impact Small Business Owner Retirement Savings Strategies Source: forbes.com - May 11, 2017 President Donald Trump’s plan to cut the tax rate to 15 percent for so called pass-through businesses, such as partnerships, LLCs and S Corporations, will help many small business owners reinvest in their business by saving on taxes. President Trump also plans to cut the corporate tax rate to 15 percent. While many applaud the President’s plan to cut taxes on businesses, which they believe will help stimulate the U.S economy as well as make American businesses more competitive globally, the discrepancy in tax rates between businesses and individuals could prove problematic, especially for retirement savings. Category: General Business |
