Incorporate before Trump tax plan in place?

[Hamhock]

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I realize there is no way to know if the tax plan will even be similar to the proposed plan -- or if any tax plan will even be passed.

However, my current question may be answered on the proposed plan of today.

Supposedly the proposed corporate rate applies to "pass through" income in the new plan. If this goes through, is there any benefit to incorporating as a single individual now vs. remaining 1099 only? That is, does anyone see how the corporate rate would apply for "pass through" income to incorporated physicians and not unincorporated 1099s?

Thanks, HH

 

[SigmaFS]

1099 income defaults to a sole proprietorship entity, which is considered a passthrough entity. No advantage to forming an S Corp with respect to the proposal.

 

[Hamhock]

1099 income defaults to a sole proprietorship entity, which is considered a passthrough entity. No advantage to forming an S Corp with respect to the proposal.

Thanks.
That is what I suspected from what I read, but my knowledge is insufficient.
I appreciate your time to confirm my suspicions.
Cheers, HH