Understanding the Complexity and Confusion Over Internal Revenue Code Section 199A
The 2017 Tax Cuts and Jobs Act (TCJA) created a 20 percent qualified business income (QBI) deduction for non-C corporation businesses. On August 16, 2018, the IRS, as part of the rulemaking process inherent to administrative law, opened the proposed ... Christine Kuglin, EA, JD
Does Net Rental Income Quality For the Section 199A Deduction
Does Net Rental Income Quality For The SECTION 199A Deduction? By David M. Fogel, EA, CPA, USTCP One of the changes made by the Tax Cuts and Jobs Act of 2017 (P.L. 115-97) was to introduce a new 20 percent deduction for qualified business income. The deduction is intended to benefit taxpayers who have net business income. One of the questions being debated in the tax preparer community... David M. Fogel, EA, CPA, USTCP