The Tax Cuts and Jobs Act (TCJA) has resulted in the most significant change in the taxation of pass-through entities since 1986 tax reform.
The 20% Qualified Business Income (QBI) Deduction and Research and Development (R&D) Tax Credits have great potential for tax benefit to many pass-through entity government contractors, including S-corporations, partnerships, and LLCs. The existing provisions, however, can be complex and ambiguous.
In our “Significant 2018 Year-End Tax Planning Opportunities For Pass-Through Entity Government Contractors” eBook, we walk through what you need to know about the 20% QBI Deduction and R&D Tax Credits. We describe the calculations, provide sample use cases, and answer common questions such as how Specified Service Trade or Businesses (SSTB) status or consulting work impacts the QBI deduction.
If you would like to learn more about how you can take advantage of these tax planning opportunities, contact your Aronson tax professional or our team today at 301.231.6200.