Finseca Action Center

Tax Proposal Details: 199A

Topics: 199A, Finseca Action Center

199A – Pass-through (a.k.a. Small Business) Deduction – Impact of Reconciliation Proposals Section 199(A) permits pass-through businesses such as sole proprietorships, S corporations, and partnerships to take up to a 20% deduction for qualified business income, subject to certain limitations. Currently, a pass-through business in the highest 37% bracket would pay an effective rate of…

Tax Increase Details

Topics: Finseca Action Center

BREAKING NEWS Tax increase details released September 13, 2021— Yesterday, Finseca got hold of a list of tax increases planned to pay for the $3.5 trillion dollar ‘soft’ infrastructure package. This is an early document. and we expect changes before the bill reaches President Biden’s desk – candidly, it could change as soon as tomorrow.…