The IRS is cracking down on this small business tax break. What it means for you
- wmifrs
- Oct 29, 2018
- 1 min read
By: CNBC | Darla Mercado
The Treasury and IRS have proposed new rules to address some of the ambiguity around the new 20 percent qualified business income deduction.
“Crack and pack,” a strategy where a business splits itself in two in order to qualify, seems to be dead.
Other ways to reduce taxable income and qualify for deductions are still in play.
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