The IRS Provides Guidance On 20% Business Pass-Through Deduction

Kohl & Company
Aug 15, 2018

Finally!!! The IRS Provides Guidance On 20% Business Pass-Through Deduction The folks at Forbes have published a better explanation than we could write. So, with a thanks to Forbes Tony Nitii, here are the particulars as we know them. This is easy reading, and mandatory for every business person who has a Sub-S corporation, Sole Proprietorship, Partnership or Trust. If you do not feel like reading this feel free to call us and we can review it with you.

Finally!!! The IRS Provides Guidance On 20% Business Pass-Through Deduction

The folks at Forbes have published a better explanation than we could write. So, with a thanks to Forbes Tony Nitii, here are the particulars as we know them. This is easy reading, and mandatory for every business person who has a Sub-S corporation, Sole Proprietorship, Partnership or Trust. If you do not feel like reading this feel free to call us and we can review it with you.

The Tax Cuts and Jobs Act -- signed into law on December 22, 2017 — gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to deduct up to 20% of the income earned by the business. While the provision has the potential to bestow a tremendous benefit upon owners of these pass-through businesses

Read more here.