Description

Planning for the New Qualified Business Income Deduction - What's in it for Your Pass-Through?
Featuring Kevin Santry, Santry 360

How can your business benefit from the new qualified business income deduction? Within the Tax Cuts and Jobs Act (TCJA), there was a new provision that was included as a way to provide benefit for businesses including partnerships / LLCs, S Corporations, and sole proprietors that wouldn’t otherwise qualify from tax cut rates. The largest benefit of this new provision is that businesses will potentially receive a deduction up to 20% of their taxable business revenue. However, there are multiple limitations that make this provision more complicated than it appears. This, combined with changes related to property tax deductions, income tax deductions, and elimination of exemptions, could have significant impact on businesses. During this examples-based presentation, guests will get clarity on the new rules, and the benefits and challenges of the new law.