Reap the Benefits: AEC Firms & The New Pass-Through Deduction
The Tax Cuts and Jobs Act created a new 20% tax deduction for pass-through firms, including S-Corporations, partnerships, and sole proprietors. Now that the U.S. Treasury Department has released its proposed rules, it’s time to take a closer look at how they’ll apply to your AEC firm.
- What qualifies as eligible business income
- Rules on reasonable compensation for owners
- Anti-abuse safeguards
- Aggregation rules for firms with multiple legal entities