Day: July 29, 2025

  • How Trump’s Tax Reform Bill Affects Small Businesses

    How Trump’s Tax Reform Bill Affects Small Businesses

    1. Cutting the Corporate Tax Rate Although the headline corporate tax cut from 35% to 21% primarily benefits C corporations, many small businesses structured as corporations enjoy this lower rate. However, many small businesses operate as pass-through entities — sole proprietorships, partnerships, S corporations — and don’t pay corporate taxes directly. 2. The New Qualified…