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Pass-Through Entities

The 2017 tax act created a new deduction of up to 20 percent for certain business income of sole proprietorships, partnerships, and S corporations, subject to various restrictions. Service businesses, such as law and accounting firms, are eligible for the deduction if owners are under an income threshold. Regulations and guidance have clarified some issues, but questions remain. Keep up with recent developments in this area by following our news feed below.


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