2018 Tax Reform: Pass-Through Income Deduction More Complex Than Thought

The new tax law – the Tax Cuts and Jobs Act (TCJA) – creates numerous tax-saving opportunities for businesses of all shapes and sizes. Notably, the new law carves out a brand-new tax deduction for owners of pass-through entities, including partners in partnerships, shareholders in S corporations, members of limited liability companies (LLCs) and sole proprietors.

But this new tax break is so complex even tax experts are befuddled by it. Here are the essentials for you to pass along to your small business clients.

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