Attended the CTSEA seminar, I am unclear if a C Corp personal service firm would be eligible for the 21% new tax rate. If not, would the firm be taxed at the previous rates.
In an early version of HR 1, it was proposed to drop the rate for a PSC to 25%. The final bill treats all corps the same, a flat 21%.
Hi John. LOVED your seminar in NYC last night. One question about the QBI deduction. I have seen from other sources that the deduction is the lesser of 50% wages, 25% wages plus 2.5% assets, or 20% QBI, but you said yesterday 20% taxable income minus LTCG. Could you please confirm that you are right?Tax Practice Pro Inc responded on 01/17/2018 Next question
Any workshops in Austin any time soon?Tax Practice Pro Inc responded on 01/28/2018