Once President-elect Trump is sworn in and gets to work, the business community may witness a seismic change in the nation’s tax laws. This may include a lower corporate tax rate, fewer reductions, elimination of the Alternative Minimum Tax and many other changes that will affect how America does business. MWE Partner Craig Savell offered his insight on the proposed changes in a recent Crain’s New York Business piece.
“They’re asking to understand the impact on their business operations and, most notably, what the tax implications are going to be under the Trump plan,” said Savell, an accounting and audit partner at Margolin, Winer & Evens, LLP (MWE), a CPA and advisory firm with offices in New York City and Garden City, Long Island.
“As it relates to cash flows, there is definitely an impression that the Trump election should be favorable to business. They are looking for opportunities in terms of cash flows: less taxes, less restriction and an overall more positive borrowing environment.” Read more>>