Will Tax Reform Help Your Business?

Prospects for tax reform are significantly greater with the Republican Party taking charge of the White House, but even with GOP majorities in both houses of Congress, reform won't be easy. Significant obstacles include a lack of unity among Republicans and the absence of a veto-proof 60 GOP votes in the Senate. Any tax reform your business will experience depends on an acceptable degree of unity in three areas — who gets to drive reform, reform goals and the cost of change.  

In the recent Grant Thornton LLP Post-election tax legislative outlook webcast, tax reform was understood as lower tax rates and tax cuts. The discussion delivered insights on probabilities and examined the few concrete facts in the proposals that are the closest things Republicans have to a plan.