Collapse Overall Rating 1 2 3 4 5 Your Rating 1 2 3 4 5 Plea

Collapse

Overall Rating:

1

2

3

4

5

Your Rating:

1

2

3

4

5

Please review the youtube video covering the tax law changes for corporations and compare these changes with the current tax laws covered this week. Identify at least one tax law change you think will have significant impact on current corporate tax compliance and explain why.

Tax Reform Update - Changes for Businesses 2018

https://www.youtube.com/watch?time_continue=5&v=80wtgE3JtSg

Solution

Most U.S. small businesses currently don\'t qualify for the reduced corporate tax rate. The majority of small enterprises are structured as pass-through entities such as limited liability companies or S corporations, where profits are taxed according to the owner\'s personal rate. While there is some tax relief in the bill for those pass-through firms--including a temporary ability to deduct up to 20 percent of income--many could access the permanent cut by converting to full-blown C corporations