New Section 199A deduction could provide additional business tax savings
The Tax Cuts and Jobs Act of 2017, Provision 11011, Section 199A, has provided a 20% tax deduction for transfer companies. Eligible taxpayers include sole proprietors, S corporations, partnerships, publicly traded partnerships (PTPs), and real estate investment trusts (REITs). Although calculating the deduction could be a difficult challenge at best, many taxpayers could end up increasing their earnings. Section 199 […]
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