Section 199A became effective on January 1, 2018. It provides millions of owners of pass-through businesses with federal income tax deductions of up to 20% of their net business income. For many of these business owners, maximizing their Section 199A deduction could make the difference between business success and business failure. Read More.
Areas Covered in the Session:
Why Congress Enacted Section 199A
Basic Section 199A Terms-Definitions and Explanations
Basic Substantive Provisions of Section 199A
Why Section 199A Is Important to Millions of American Business Owners
Computations for Clients Whose Taxable Income Does Not Exceed Their “Threshold Amount”
Computations for Clients Whose Taxable Income Is Within Their “Phase-in Range”
Computations for Clients Whose Taxable Income Exceeds Their Phase-in Range
How to Compute Section 199A Pass-Through Deductions for Clients Read More.
John M. Cunningham, is a former trial lawyer in the Tax Division of the U.S. Department of Justice and a former member of the Foreign Trade and Tax Department of the international law firm of Baker McKenzie. He is licensed to practice law in New Hampshire and Massachusetts. Read More.