Detailed text transcripts for TV channel - FOXNEWS - 20171115:00:08:00
Here's how it works. you have an llc, sub s, just a simple fight. his corporation, which is most businesses in america, he pays the individual tax rate, so he might be competing with a corporation at 35%, he could be at 44.6% right now today. we are dropping both those rates by 40%, so that business income is taxed at 25%. at your wage and salary income is taxed at the income tax rate. your business gets taxed at 25%. here's the rub, and this is the key question, how do you distinguish between the two? how do you make sure you have good rules so that people can't use a tax shelter to shelter t...
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