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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https://www.cpapracticeadvisor.com/news/12389903/2018-tax-reform-pass-through-income-deduction-more-complex-than-thought

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© 2019 Tax Prodigy, LLC The training provided by Tax Prodigy Provision Academy is general information only and is not, by means of this publication or recording, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication/recording does not substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified advisor. TAX PRODIGY, LLC shall not be responsible for any loss sustained by any person who relies on this publication.

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