re: New tax bill- how will it impact you?

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Also it looks like there will be flow issues with professional corporations for lawyers, doctors, and accountants. That will sting and I will have to restructure my small business

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So you just won't get the benefit of the favored rates. This is similar to how, if these businesses are set up as C Corps... they don't get graduated C corp rates either.

If we end up with one 20 percent C Corp rate for all C Corps... it may be beneficial to convert to a C Corp... but that would be a massive loophole. The whole point of the preferred rate on passthroughs is to give them a similar rate to C corps. So if they are going to put the PSC rules on passthroughs... you would think they would stick them on C Corps as well.

Edit: I see one version has PSCs taxed at 25 percent if they are a C Corp.