Anne Zimmerman is the co-chair of Businesses for Responsible Tax Reform, a coalition of small business owners and organizations, and the founder and owner of Zimmerman & Co CPAs, a public accounting firm with offices in Cincinnati and Cleveland, Ohio. The views expressed in this commentary are solely those of the author.

(CNN) As the Republican tax plan continues to advance -- and morph -- with dizzying speed, those of us in the accounting business continue to be astonished by the thickening maze of loopholes emerging from the bill.

As a CPA, I could be celebrating these loopholes. After all, I would be able to save my clients a lot on taxes and could be invited to fly along to, say, the Cayman Islands to set up an offshore account under the new regulations. Four days at the beach with a fully-stocked hotel minibar and all the HBO and Showtime programs I can watch -- all fully deductible for me and my client. Sounds nice, right?

Anne Zimmerman

Wrong. As someone who has served small businesses for more than 30 years, and co-chair of an organization called Businesses for Responsible Tax Reform, I am not cheering. Small business owners aren't cheering the bill either.

Quite the opposite. This bill, despite the glossy, small business-friendly language being used to sell it, would actually do more to widen the tax advantage gap between large businesses and small ones than our present -- and already tilted tax code -- does. This bill does just that, thanks to the change from a worldwide tax system , which requires US companies to pay Uncle Sam taxes on all their profits, regardless of where the income is earned, to something called a territorial one , under which companies don't owe taxes to their own governments on income they make offshore.

This change, if enacted, would encourage wealthy businesses to learn how to go offshore to gain a more favorable tax rate than is available within our borders -- giving them a significant financial and competitive advantage over our neighborhood mom and pops trying to stay afloat onshore.