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Sep 27 Attorney Articles

The Section 199A Deduction: Concepts & Examples

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Published in the California Real Property Journal & California Tax Lawyer Joint Issue.

In the Tax Cuts and Jobs Act of 2017 (“TCJA”), Congress created Internal Revenue Code (IRC) section 199A to address, among other things, concerns regarding increases in business income taxation. TCJA addressed these concerns for taxpayers investing in Subchapter C corporations by reducing the income tax rate on C corporations from 35 to 21 percent and making a similar reduction with respect to the highest ordinary income tax rates for individuals, trusts, and estates from 39.6 to 37 percent…

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