Tag Archives: tax rate

Thinking of Changing Your Business Structure in Light of Latest Tax Reform? Read This First

With the dramatic drop in the corporate tax rate to 21% and the introduction of the new 20% qualified business income (QBI) deduction for owners of pass-through entities, there has been growing focus on whether businesses should change their legal status to take advantage of . Impact of a Change in Business Structure Here is a brief overview of the consequences of changing entity status. Going from S to C Status An S corporation that wants to use the flat 21% corporate tax rate can revoke its […]

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