Proposed Regulations Provide Some Key Guidance for Taxpayers Benefiting from the New QBI Deduction

Proposed Regulations Provide Some Key Guidance for Taxpayers Benefiting from the New QBI Deduction

by Jim Dubeck and Greg Thomas, Directors, National Tax Services One of biggest areas of opportunity and uncertainty coming out of tax reform, commonly referred to as the Tax Cuts and Jobs Act (TCJA), is the Qualified Business Income (QBI) deduction under Section 199A. The new deduction could reduce an individual’s tax…

Ensuring a Smooth Business Transition Through Succession Planning

Slightly more than half of family-owned firms intend to keep the business in the family, finds a survey by PwC. But succession planning is critical for the smooth transition of a family-owned firm from one or more family members to the next generation. Although you may have identified the…