The IRS is cracking down on this small business tax break. What it means for you

https://lnkd.in/eYJSQ68

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.