The Republicans have recently released two different versions of a tax plan that purports to support small businesses. But do either the Senate or the House versions really help? As always, the devil is in the details. For the most part, reductions of the corporate tax rate won’t help. Both bills call for a reduction of the corporate tax rate from 35% to 20%. Most home-based businesses, however, are either sole proprietorships or treated as pass-through entities. As such, there is no “corporate” tax on the profits, avoiding double “double-taxation” of corporate taxes and then taxing the individual distributions. Instead, … Continue reading Does the Republican Tax Plan Help Home-Based Businesses?