Deductions for Business Owners

2019-02-12T22:30:08+00:00October 10th, 2018|

WASHINGTON — The Internal Revenue Service issued proposed regulations on August 08, 2018 for a new provision allowing deductions for  many business owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.

The new deduction — referred to as the Section 199A deduction or the deduction for qualified […]