As another tax year comes to a close, it is time to consider your tax planning opportunities. The tax law passed last December (TCJA) could have a major impact on your business and personal income tax returns.
Year-End Planning:
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The C Corporation tax rate has been reduced to 21%. The tax rate for dividends paid from a corporation are taxed at the same rate as prior years which includes the qualified dividend rate of 15/20% plus the net investment income tax rate of 3.8.