Yesterday, August 23, 2018, the IRS released new proposed regulations (technically, they are amendments to existing regulations) to deal with States’ recent attempts to circumvent the state and local income tax (SALT) deduction limit that was put into place by the Tax Cuts and Jobs Act. In short, the proposed regulations amount to a giant[…]
A Guide To The New 20% Pass-Through Tax Deduction
Share0 Share +10 Tweet0 Share0 In December 2017, President Donald Trump signed the Tax Cuts and Jobs Act into law, ushering in the biggest changes to the tax code in more than 30 years. Among the more significant changes made by the law is the creation of a new 20% deduction for certain pass-through business income.[…]
