How Trumps tax proposal could impact his own business empire
President Trump’s massive tax-cut proposal would slash taxes on hundreds of businesses he and his family own.
The White House on Wednesday unveiled a proposal that would cut the top tax rate for corporations, as well as entities known as pass-through businesses, to 15 percent.
That could prove to be a windfall for the Trump Organization, the private umbrella company for hundreds of Trump real estate, licensing and other companies, many of which qualify as pass-through businesses.
Trump has refused to release his tax returns, making it impossible to know how much his businesses could save on taxes.
In addition, the White House said it would create rules to prevent wealthy individuals and corporations from taking advantage of the low pass-through rate. But because they did not provide details, it’s difficult to know how those rules would apply to the Trump companies.
https://www.msn.com/en-us/news/politics/how-trump%e2%80%99s-tax-proposal-could-impact-his-own-business-empire/ar-BBApMeS?li=BBnb7Kz&ocid=edgsp
