A House GOP bill, cleared May 22 by a 215–214 vote, would eliminate the pass-through entity tax deduction, a move that many physician groups warn would raise taxes on private medical practices, more than 20 national medical organizations wrote in a May 20 letter. The groups — which include the American Academy of Family Physicians and American Gastroenterological Association — warn the repeal would result in double taxation on physicians, once at the business level and again on personal returns. The letter argues it unfairly targets service-based professionals and would widen the tax gap between small practices and large corporations.
Read the full article: A Provision of the GOP Bill Could Hurt Private Practice, Physicians Say //
Source: https://www.beckersasc.com/asc-coding-billing-and-collections/a-provision-of-the-gop-bill-could-hurt-private-practice-physicians-say/