Jun 15, 2018
TAX REFORM AND IRC § 199A DEDUCTION OF QUALIFIED BUSINESS INCOME OF PASS-THROUGH ENTITIES: * Deduction equal 20% of Qualified Business Income (QBI). * Generally available to owners of pass-through business. * Limited for Specified Service Businesses * Limited by the business owner’s taxable income. * Taxpayers who are owners of: * Sole proprietors (Schedule C) * Sole owners or tenancy in common of rental estate (Schedule E) * S-Corporation owners (Form 1120S) * Partnership owners (Form 1065) * #IRC199A #SmallBusiness #Deduction #TrustPlanning #GiftPlanning #Ideas #Qualified #Business #Income #TaxReform