Course
The Tax Cuts and Jobs Act created a new 20% tax deduction for pass-through firms, including S corporations, partnerships, and sole proprietorships. ACEC and its member firms advocated successfully to ensure that engineering firms have full access to the new tax deduction.
Now that the U.S. Treasury Department has released its proposed rules, it’s time to take a closer look at how they’ll apply to your firm. Join Scott Hursh, Thomas Moul and Jennifer Nelson for a productive overview of the requirements for claiming this tax benefit, including discussion of:
- What qualifies as eligible business income
- Rules on reasonable compensation for owners
- Anti-abuse safeguards
- Aggregation rules for firms with multiple legal entities
This on-demand online class lasts 60 minutes and is worth 1.0 PDH (Professional Development Hour).