PRESIDENT TRUMP ANNOUNCES TAX REFORM OUTLINE

Today, the Trump Administration released its outline for corporate & individual tax reform.  While not draft legislation, the announcement serves as the Administration’s “opening offer” in the forthcoming tax debate.  Here are some of the highlights: 15% Corporate Rate; Also Applied to “Pass Through” Income. The corporate income tax rate would be lowered from 35% Read the full article…


R&D Tax Credit Alternative Minimum Tax (AMT) Offset

New legislation allows eligible businesses to offset the R&D credit against alternative minimum tax. Beginning in 2016, eligible small businesses can claim the R&D credit against the AMT. The ability to offset the credit against AMT removes a significant obstacle previously associated with utilization of R&D credits. Under the PATH Act of 2015, which made Read the full article…