IRS Issues Proposed Regulation on New 20 Percent Deduction for Passthrough Businesses

IRS Issues Proposed Regulation on New 20 Percent Deduction for Passthrough Businesses

You may be eligible for a new deduction when filing your 2018 tax return as part of the Tax Cuts and Jobs Act of 2017. Section 199A of this legislation provides a 20% deduction for qualified business income from a proprietorship, partnership, S corporation, trust or estate.  Some limitations will apply. 

Read more here to find out if you qualify.

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