Trumps tax plan could slash Trumps taxes
Fredreka Schouten , USA TODAY
Published 3:19 p.m. ET April 27, 2017 | Updated 4 hours ago
WASHINGTON — President Trump’s one-page plan to dramatically overhaul the U.S. tax code could reap big benefits for one taxpayer in particular: Donald Trump.
His push to lower the corporate tax rate could slash taxes on the hundreds of limited liability companies that make up his real-estate and licensing empire. The billionaire and his family also stand to benefit from his plans to lower the income tax rate for the wealthiest Americans and to abolish the federal estate tax and the so-called alternative minimum tax.
One of the biggest potential tax windfalls: Trump's push to lower the tax rate for so-called pass-through businesses.
Pass-throughs do not pay corporate taxes. Instead, the business' income is reported on the owner's tax returns and is taxed at the owner’s individual tax rate. Trump’s proposal would drop the current top tax rate of 39.6% to 15% ...
https://www.usatoday.com/story/news/politics/2017/04/27/how-trumps-tax-plan-will-affect-donald-trump/100980078/