For Donald Trump, 15 is the magic number. That’s the percentage at which he wants to cap the corporate tax rate, a steep cut from the current top rate of 35 percent and much lower than the ordinary income rates paid by many partnerships and small-business entities. Read the full NYT article for details on this big, bold and historic tax cut idea.
Eric Cohen, CPA is the President and Founder of E. Cohen and Company CPAs, a full-service CPA firm serving nonprofit organizations, government contractors, professional service companies and other industries with audit, tax and business advisory services for over 26 years. The firm was commended as a SmartCPA Reader’s Choice by SmartCEO magazine and a “Best Accounting Firm to Work For” by AccountingToday magazine. For more information, visit www.ecohencpas.com or call 301-917-6200.