March 3, 2017, Investment News – Among many of the campaign promises made by President Trump, tax reform is high on the list. Tax code has been a subject of discussion for many political cycles, but both sides agree it needs a reform. In this article, financial advisers offer their thoughts on their expectations for this reform and how it will affect economy and their clients.
According to Bryan Beatty, some of the most important changes to the new tax reform would include:
- Dramatic cuts to the corporate tax rate, down to between 15% and 20%, from 35% today
- Reducing the number of tax brackets down to three from the current seven
- Various pass-through legal structures like limited liability corporations commonly used by registered investment advisers
Read here how those changes would affect individual investors and economy overall.