You may remember “Groundhog Day,” the 1993 film starring Bill Murray. In it, Murray played a Pittsburgh TV weatherman who, during an assignment covering the annual Groundhog Day event in Punxsutawney, Pennsylvania, found himself caught in a time loop, repeating the same day again and again.
One of the new, key components of Trump Tax is a provision important to the vast majority of small businesses. Practitioners may know it as the Section 199A deduction. Under Trump Tax, corporations that used to see a maximum tax rate of 35 percent got that rate slashed to 21 percent.