Calculating your Section 199A deduction for a single business can be complicated and confusing.
If you have multiple businesses, things get even trickier. There are more decisions to make. More choices to consider. More complications to deal with.
That’s where our new issue of the Tax Reduction Letter comes in. We’ll show you step-by-step how to calculate your correct Section 199A deduction when you have multiple businesses.
Plus, we’ll explain how new Section 199A proposed regulations can help you rescue an otherwise lost 199A deduction.
Don’t miss the valuable information we’ve got waiting for you when you read my new article titled Tax Tips: How to Find Your Section 199A Deduction with Multiple Businesses?
Three ways our fact-filled article can help you:
- We’ll explain why “aggregation” can be a great strategy. When you have several businesses, if you meet certain requirements you’ll be able to aggregate your businesses. Why is aggregation worth considering? Because it can enhance or even create the Section 199A deduction for you! You’ll get all the details when you read the full after-tax-reform article.
- We’ll tell you what to do if you don’t aggregate. In that case, you should compute your qualified business-income amount on a business-by-business basis. Then, you can add the results together before applying the taxable-income limitation. Don’t worry. We’ll make everything clear when you read the full after-tax-reform article.
- You’ll learn how to handle losses. If you’re doing a business-by-business calculation, and one or more businesses incurs a loss, you have to allocate the loss to your profitable businesses. This reduces your overall Section 199A deduction as you’ll discover when you read the full article.