This prompted some tax professionals to have their clients ask for more time. More from Personal Finance: Why women are less prepared for retirement than men Consider this investment if you're worried about losing money These wealthy investors are trimming their stock holdingsĮven tax software providers were caught by surprise by these rule changes and accountants had to override the programs to calculate the deduction. Other new regulations detailed the conditions in which a business owner can aggregate multiple trades and businesses to get the tax break. Those updates included proposed guidance on the tax break for rental real estate owners - a safe harbor they can follow to be sure they qualify for the 20% deduction. Some accountants decided to proceed with caution on the deduction this spring, as the IRS proposed new guidelines for the rules in January 2019.
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