This safe harbor is available for taxpayers who seek to claim the section 199A deduction with respect to a “rental real estate enterprise.”Read More
The IRS has released a Fact Sheet outlining the components and related details of the section 199A deduction, also known as the qualified business income deduction. Many individuals, including owners of businesses operated through sole proprietorships, partnerships, S-corps, trusts and setates may be eligible for this deduction.Read More
The Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction).
Here is an overview of some of the important changes and issues from the Tax Cuts and Jobs Act, as well as some actions you may be able to take before year-end to maximize your tax savings for 2018.Read More