Journal article
Implications of the New Flow-Through Deduction for Financial Service Professionals
Journal of financial service professionals, Vol.73(1), p85
01 Jan 2019
Abstract
The Tax Cuts and Jobs Act added a new deduction for the years 2018 to 2025 to effectively lower the tax rates of many proprietorships and flow-through entities. The provision has many complexities associated with it, including a wage requirement for taxpayers above certain income levels. It also prohibits the deduction for certain service businesses, again where income exceeds certain levels. Financial professionals must be aware of the use and limitations of this deduction in order to properly assist clients.
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Details
- Title
- Implications of the New Flow-Through Deduction for Financial Service Professionals
- Creators
- Anthony CuratolaJ Harden
- Publication Details
- Journal of financial service professionals, Vol.73(1), p85
- Publisher
- Society of Financial Service Professionals
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Accounting
- Identifiers
- 991020531865204721