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Trump’s Tax Plan Could Turn ‘Everyone and Their Dog’ Into an LLC

  • Proposal would slash rate on pass-through businesses to 15%
  • Mnuchin promises fixes, but experts fear mass tax avoidance

The Trump administration’s proposal to slash the tax rate on partnerships and limited liability companies could set off a stampede of individual taxpayers trying to reclassify themselves as so-called pass-through businesses in order to take advantage of the savings, according to tax experts.