Passing Through Tax Breaks After the TCJA

Although lawmakers attempted to level the playing field between the new 21-percent tax rate for incorporated shooting sports businesses and the tax bills of owners of pass-through businesses, confusion is the name of the game. Here's how to navigate the waters.

Passing Through Tax Breaks After the TCJA

Although lawmakers attempted to level the playing field between the new 21-percent tax rate for incorporated shooting sports businesses and the tax bills of owners of pass-through businesses, confusion is the name of the game. Despite a 20-percent deduction from income passed through from entities such as S-corporations and partnerships, owners of businesses operating a pass-through entity find themselves facing higher tax bills than an incorporated business.

Pass-through...

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