Workandmoney.com interviewed Tax Partner Diane Giordano for an article about what the new tax law means for small businesses.
By Lisa Morris Josefak
“Prior to this law passing, there was a graduated corporate rate schedule that taxed businesses with taxable income under $50,000 at 15 percent,” Giordano said. “So, for those C Corporation businesses with income below $50,000, they will experience an increase in rates. However, for most other larger companies, they will see a big reduction.”