2017 TAX REFORM REGARDING QUALIFIED BUSINESS DEDUCTION

27 Dec 2017 | Under Tax News | Posted by | 0 Comments

2017 TAX REFORM QUALIFIED BUSINESS DEDUCTION

If you are a sole proprietor, a partner in a partnership, a member in an LLC taxed as a partnership
(hereafter, “partner”), or a shareholder in an S corporation, TCJA provides a new deduction for qualified
business income for taxable years beginning after December 31, 2017, and before January 1, 2026.
Trusts and estates are also eligible for this deduction.
The amount of the deduction is generally 20 percent of the…

Download the PDF of our full tax letter below.

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