Posts by Scot Goldring
Why is there an IRC Section 163(j) note on my K-1?
By: Scot Goldring, Tax Senior Manager, and Kelsey Monaghan, Tax Associate If you own part of a company doing business as a partnership or S corporation, you’re eagerly awaiting the arrival of your K-1. This year, you may notice something different – disclosures related to new Section 163(j) limitations. What is Section 163(j)? The new…
Read MoreCan Doctors and Lawyers Take the 199A Pass-Through Deduction? Well, It Depends…
There’s a lot of hype about tax reform’s new pass-through deduction that lets taxpayers deduct 20% of the income from entities such as limited liability companies and partnerships, but many people won’t be able to take advantage of it. The new pass-through deduction provision in section 199A of the tax code was meant to allow…
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