For most small businesses and the self-employed, the 20 percent tax deduction from new tax code Section 199A is the most valuable tax deduction to come out of the Tax Cuts and Jobs Act tax reform.
The Section 199A tax deduction is complicated, and many questions remain unanswered even after the IRS issued its proposed regulations on the provision.
And to further complicate matters, there’s also a lot of misinformation out there about Section 199A.
In this article, we answer seven questions that small businesses and the self-employed are asking. ... Log in to view full article.