Section 199A, enacted in the Tax Cuts and Jobs Act at the end of 2017, allows individuals and certain noncorporate taxpayers to deduct up to 20 percent of qualified business income (QBI) beginning in 2018. QBI generally...more
The new regulations will have a direct impact on the formation of partnerships in the international context.
For most of the past decade, contributions to partnerships (including LLCs taxed as partnerships) have been...more