Just Passing Through: The 20 Percent Deduction for Qualified Business Income

With federal estate tax estimated to affect only 1-in-1,500 families under current law, income tax planning has taken on greater importance. Section 199A of the Internal Revenue Code allows owners of pass-through entities to deduct up to 20% of their qualified business income (QBI) … but the statute and proposed regulations are fraught with peril. Are the potential benefits worth it? If so, will the client qualify? These and many other questions will be addressed … some definitively!