Category: 2018 Tax Updates

Jan 2018

Jan 2019 – Tax Cuts and Jobs Act Provision Section 199-A Deductions

(Source IRS.gov: https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-income-deduction-faqs) Basic questions and answers on new 20-percent deduction for pass-through businesses Below are answers to some basic questions about the new 20-percent deduction for pass-through businesses. Also known as the section 199A deduction or the deduction for qualified business income, the deduction was created by the 2017 Tax Cuts and Jobs Act. […]

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