Joshua Lake, an associate in Seyfarth's Corporate Tax group, is presenting on The Knowledge Group webcast titled "The New Section 199A Qualified Business Deduction: Opportunities and Stumbling Blocks for Your Business" on September 25, 2018.
The Tax Cut and Jobs Act (TCJA), passed on December 22, 2017, has added Section 199A to the Internal Revenue Code. The new provision allows a Qualified Business Income (QBI) deduction of up to 20% to owners of Pass-Through entities. Section 199A offers significant benefits to businesses since it can decrease the business income tax rate to 29.6% from 37%. It’s critical for companies to implement tax planning strategies that would effectively optimize the deduction.
This presentation will help participants understand the important aspects of Section 199A, and will provide an in-depth discussion of the benefits and challenges companies may face in taking advantage of this deduction.