The recently enacted Tax Cuts and Jobs Act (TCJA) is one of the largest pieces of federal tax legislation since 1986. Many of the provisions in the act are not permanent and are scheduled to expire after Dec. 31, 2025.
One of the more controversial income tax topics and the one with the most potential impact, could be the new Internal Revenue Code Section 199A deduction, also referred to as the 20 percent pass-through deduction.
In an effort to keep the tax rates of pass-through businesses somewhat…
