Article Date:
February 2018

Word Count:



Does Tax Reform Dislike Your Reputation or Skill?

Tax reform’s new 20 percent deduction applies to both in-favor and out-of-favor businesses when the individual claiming the deduction has taxable income of $157,500 or less (single taxpayer) or $315,000 or less (married filing a joint return).


When you are in the out-of-favor group, you get a zero Section 199A deduction



when your taxable income is greater than the thresholds above and your business pays no wages or has no qualifying property, or


when your taxable income is greater than $207,500 (single) or $415,000 (married filing a joint return).


Last month, we gave you a list of the broad out-of-favor groups. ... Log in to view full article.

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