Partnerships and S corporations are studying how much they may suffer financially if Congress doesn’t extend a 20% deduction for pass-through businesses that is set to expire at the end of 2025.
The deduction, along with the individual income tax rates cut also expiring at the end of next year, reduced taxes for pass-through businesses. The breaks are part of a broader 2017 Republican tax law, which also permanently lowered the C corporation tax rate to 21%.
Pass-through business owners are antsy for the results of the November election so they can plot moves to minimize their tax bill. Many ...
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