Recent changes in the tax law provide a hefty 20-percent Section 199A tax deduction for lots of lucky taxpayers.
But not for everyone. “In-favor” business owners are winners. “Out-of-favor” business owners are losers.
What happens when an in-favor owner marries an out-of-favor owner? Does one spouse rob the other of their valuable 20-percent deduction?
You’ll get the answers to these and many other important questions when you read my new article titled Q&A: Does My Spouse Rob Me of My New Section 199A Tax Deduction?
Three ways our fact-filled article can help you:
- We’ll explain what “in-favor” and “out-of-favor” means. Lawmakers have defined which businesses fall into which category. Losers include doctors, lawyers, consultants, and other unlucky professionals. You’ll get the whole story when you read the full after-tax-reform article.
- No matter which category you are in, we’ll tell you the right strategy to follow. Maybe you should do a straight-line phase-out of the deduction. Or perhaps you’re at risk for falling off the cliff and losing your Section 199A deduction. Don’t worry. We’ll point you in the right direction when you read the full after-tax-reform article.
- We’ll give you access to our free Section 199A calculator. Don’t miss it! If you want to see what your Section 199A deduction will be (or whether you’ll receive any deduction at all!), just enter four numbers into our free online calculator. Instantly, you’ll see what deduction, if any, you can expect. We’ll give you all the details when you read the full after-tax-reform article.