On December 22, 2017, the Tax Cuts and Job Act was signed by President Trump, signaling a sweeping legislative reform of the federal tax code. In November, we discussed how the new tax bill would affect pass-through entities, so now we will turn our attention…
Yesterday members of the Trump administration, Gary Cohn and Steven Mnuchin, outlined the broad strokes of President Trump’s tax proposal. Included in the proposal are plans to reduce the seven tax brackets currently in place to three, dramatically lower the tax rate for businesses, double the standard…