View From McDermott: Accelerating Deductions for Compensation and Benefits if Corporate Tax Rates Are Reduced

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Overview


Stephen Pavlick wrote this bylined article discussing President-Elect Trump’s proposal to reduce the maximum corporate income tax rate from 35% to 15%. Pavlick notes, “While the effective date of any rate reduction is uncertain, it likely will not occur before 2018. Deductions claimed when tax rates are 35% are worth 20% more to the taxpayer than if the same deduction is claimed when rates are 15%.”