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Senate tax bill may hurt entrepreneurs with income above $500K

Senate tax bill may hurt entrepreneurs with income above $500K

Finance
Accountants sifting through the Senate version of the GOP tax bill are finding that some of their small business clients may indeed pay more under the proposed legislation.Generally, the Senate bill will permit small business owners to deduct 23 percent of their income, allowing them to save on their taxes. This rate will be available to so-called pass-through entities, including S corporations and limited liability companies (LLCs).The remainder of the income that isn't deductible will be subject to regular income taxes.Under current law, profits from a small business "pass through" to the owner and are taxed at his or her individual rate, which can be as high as 39.6 percent.But accountants are saying that the bill isn't quite so generous for entrepreneurs who already take deductions th...
Vroom vroom: CarGurus prices IPO at $16, above the range

Vroom vroom: CarGurus prices IPO at $16, above the range

Finance
Shutterstock photoCarGurus, an online marketplace for buyers and sellers of new and used cars, raised $ 150 million by offering 9.4 million shares at $ 16, above the range of $ 13 to $ 15. CarGurus plans to list on the Nasdaq under the symbol CARG. Goldman Sachs, Allen & Company and RBC Capital Markets acted as lead managers on the deal. The article Vroom vroom: CarGurus prices IPO at $ 16, above the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com. Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOS...