Description

The TCJA changed the tax rates for C corporations and created the Qualified Business Income Deduction for sole proprietorships and pass-through entities. Do these changes move the needle, so that businesses should change their entity structure? What does 'separable books and records' mean in the context of Section 199A?

Learning Objectives:

• Compare C corporations to flow-through entities under the TCJA to understand when a change in entity may be beneficial for the taxpayer.
• Distinguish separate from separable in understanding the significance of a business' books and records.

Speaker(s):

• Christopher Hesse, CPA, Principal, CLA