What are some general
rules of thumb of Sec. 199A?
About Me
- andrewjordancpa.com
- Andrew J. Jordan, CPA, MSF is a licensed Certified Public Accountant. He achieved a successful career as a CPA, Financial Manager and Consultant for a variety of large and small businesses. Andrew is experienced in creating value for companies in industries ranging from staffing and professional services, retail automotive dealerships, manufacturing and real estate. He also has over 25 years experience assisting individuals and businesses with income tax planning and compliance. Andrew holds a Bachelor of Science degree in Business Administration from Wayne State University in Detroit, MI and a Master of Science in Finance from Walsh College in Troy, MI. His graduate education included significant elective study in Taxation. His services include: Accounting, Tax and Advisory Services. Visit andrewjordancpa.com for more information.
Sunday, December 2, 2018
Qualified Business Income (QBI) Deduction (Sec. 199A)
Starting in 2018 Individuals will qualify for a 20% deduction of qualified business income from some businesses (partnerships, S Corporations, or sole proprietorships). The new deduction is authorized by Section 199A of the Internal Revenue Code.
Tax Cuts and Jobs Act (TCJA) Highlights
The TCJA was signed into law at the end of 2017. The IRS has been
working throughout 2018 on this major piece of tax legislation, issuing
proposed regulations, notices, memos, FAQs and more to help businesses make
sense of all the changes. The following are some highlights of the new
tax law that may affect your 2018 tax return.
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