The 2017 Tax Cuts and Jobs Act introduced Code Section 199A which allows a 20% deduction from taxable income for certain pass through entities. The IRS issued proposed regulations in August of 2018 that address Section 199A and resolve some questions but raise others. In this webcast, Steve Siegel will cover:
- how Section 199A will apply for most of our clients
- who can claim this deduction and who cannot claim it
- the various thresholds in the law that allow certain business activities to qualify for the deduction – and others to not qualify
- what planning we can suggest to allow the majority of our clients to understand this law and determine how, if at all, its opportunities may apply to them.