How Tax Reform Could Impact the Financial Future of Startups
For those keeping up with the news lately, and not just celebrity gossip, you may have noticed that tax reform is all the buzz. While maybe not as exciting to most as Taylor Swift’s new album, tax reform could have a very meaningful impact on many businesses and individuals. Including startup businesses and the individuals that own them.
Tax reform is a moving target at this point, as both the House and the Senate have their versions circulating. In addition, there have been revisions and amendments made to their original plans, which further complicates the analysis and understanding. Given how profound an impact tax reform will have on our clients, we have an entire team that has been studying and dissecting each page of each plan, along with the revisions and amendments as they are released.
While there are a number of significant changes to both business and individual taxation that our firm’s tax reform team is following, our startup team is closely following a few key areas that could have the greatest impact on startup companies.