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Does my single member LLC qualify for the new Pass thru tax deduction? Is the single member LLC a viable entity ?
Does my single mem
ber LLC qualify for the new pass thru tax deduction
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Does my single member LLC qualify for the new Pass thru tax deduction? Is the single member LLC a viable entity ?
No, that is not available until next year.
"Self-employed and small businesses:
The bill has a myriad of changes for business. The biggest includes a reduction in the top corporate rate to 21%, a new 20% deduction for incomes from certain type of “pass-through” entities (partnerships, S Corps, sole proprietorships), limits on expensing of interest from borrowing, almost doubling of the amount small businesses can expense from the 2017 Section 179 amount of $510,000 to $1,000,000, and eliminates the corporate alternative minimum tax (AMT)."
Click this link for information about the pass through deduction.