Huge New Tax Deduction for Qualified Business Income

This tax memo will briefly describe the huge new tax deduction available to business owners and owners of rental properties. The tax deduction under new Section 199A of the tax code can be up to 20% of all the qualified business income reported in your personal tax return. We plan to come out with further guidance on planning for the new tax deduction in coming months. The IRS last week issued hundreds of pages of proposed regulations that we will review.

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Alex Lehmann
Business Tax Planning after the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (TCJA) has altered the tax landscape for a lot of businesses. The changes are extensive, and this summary provides a high-level overview of some of the highlights to keep you informed. Due to the sweeping nature of the changes, we’d welcome the opportunity to have a conversation with you to discuss planning opportunities for your specific situation.

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Alex Lehmann
Individual Tax Planning after the Tax Cuts and Jobs Act

On 12/22/17, President Trump signed into law the Tax Cuts and Jobs Act (TCJA). The TCJA brings a host of provisions that could impact your tax situation. The changes also bring some tax planning opportunities. This summary highlights what we think are key points and planning strategies after the TCJA that will impact individual taxes. Business tax provisions and strategies will be discussed in a later tax update.

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