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2018 Tax-Savings Moves

2018 – 12/06 It’s not too late for businesses to implement some 2018 tax-saving moves. One is making the most of the new deduction for qualified business income. For tax years starting after 2017, taxpayers other than corporations may be entitled to a Sec. 199A deduction of up to 20% of their qualified business income. For 2018, if taxable income exceeds $315,000 for a married couple filing jointly, or $157,500 for all other taxpayers, the deduction may be limited based on whether the taxpayer is engaged in a service-type trade or business. Contact us for more info at 972-231-2503.

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