Trump-15% business tax

[Itssalsatime]

Obviously would need to wait for the details, but preliminary reporting suggest that this is going to be one of the first things the conservatives pass.

Would IC emergency docs be able to setup S corp in order to take advantage?

If physician works as an IC at say, EMcare, wouldnthat physician be able to creat a c corp and take advantage of new 15% tax rate?

Or is IC already considered business thus =15% new rate

Thanks

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[The White Coat Investor]

It's not really clear how this is going to work, so I'd wait on the details. I have no idea why just declaring myself an LLC or an S Corp should lower my tax rate from 33% to 15%. That's obviously stupid policy.

What it might make reasonable, however, is declaring yourself a C corp and paying taxes at the corporate rate and then again at the dividend rate. Right now that's just dumb because corporate + dividend rate > personal rate, but if you lowered both of those to 15% the total could be below the personal rate.

 

[Itssalsatime]

Awesome. Thanks a lot for the reply. I will bump this thread again when some policy released (or maybe your blog??)

 

[Apollyon]

pol8is

What does this mean? I thought that, maybe, you forgot a space, but, even if it is pol8, I still can't parse it. Or, did you mean "policy"? Thanks!

 

[Itssalsatime]

What does this mean? I thought that, maybe, you forgot a space, but, even if it is pol8, I still can't parse it. Or, did you mean "policy"? Thanks!

Sorry
Policy
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