Section 199A: how small business owners can skip 20% of their taxes
#56: This week, I invited CPA Steve Nelson, whose tax blog I’ve followed for years, to chat with us about the details of how Section 199A works and the restrictions around it.
199A created a huge new tax break for small business owners, partnerships, real estate investors, and contractors. But there was a lot of uncertainty initially due to seeming ambiguities and loopholes in 199A without clear guidance/regulations to address them.
Now, two years later, a lot has become clearer.
We discuss:
Check it out here:
https://hackyourwealth.com/section-199a
Are you currently able to avail Section 199A? If so, how has it changed your business operations and/or financial planning considerations, if at all? Let me know by leaving a comment.
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Intro/Outro: Old Bossa by Twin Musicom.
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