Dec 21

This week’s tax change is large and complex.  I’m sure attorneys and accountants will be kept employed for years, determining what it means to the rental industry.   In my search for answers I found a good article that is worth sharing.

Final pass-through rules help some firms more than others

A new exclusion or deduction of 20 percent of ‘qualified business income’ will effectively reduce the tax rate on such income by 20 percent. Thus, qualified income otherwise taxed at the top rate of 37 percent will be taxed at 29.6 percent. Income otherwise taxed at 24 percent, for example, will be taxed at 19.2 percent. Self-employment or net investment income taxes, where applicable, would be in addition to these amounts.

Leave a Reply


preload preload preload