New Deduction Launched for Pass-Through Businesses
The TCJA creates a new deduction for owners of pass-through business entities, such as sole proprietorships, partnerships, S corporations and limited liability companies (LLCs). The deduction generally equals 20% of qualified business income (QBI).
Tax Reform – Which Rumored Provisions Didn’t Actually Pass?
The TCJA made more changes to the tax code than any bill since 1986, but not all the rumored changes actually passed. Key proposals were left out of the final legislation, including the repeal of the Estate and Gift Tax and other major policies affecting businesses and individuals.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.