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The Tax Overhaul: What Every Business Owner Needs to Know

If you are wondering where your business deductions stand, you are not alone. In fact, questions abound about everything from employee withholding to how to determine what “qualified income” is for your business. Where to start? Most businesses are interested in the promised 20 percent tax reduction. Whether you operate your business as a sole proprietorship, partnership, or S corporation, your business can qualify for some, or all of the new 20 percent deduction. You can also include income you receive on your real estate investments, real estate investment trusts (REITs), publicly traded partnerships, and qualified cooperatives. How to Determine Qualified Income for...