Tell Me about the Cliff You have two opportunities to go off the cliff. The first opportunity applies to every passthrough business that pays no W-2 wages. Let’s say you are married filing a joint return, own no qualifying property, and pay no W-2 wages in your...
If you are a high earner AND not in the out-of-favor specified service trade or business group, you may want to consider operating as an S corporation to qualify for the new Section 199A 20 percent tax deduction. If you currently file as a Schedule C taxpayer because...
