Article
Tax Reform: Form W-2 Significance for Pass-Through 20% Section 199A Deduction
Article
Tax Reform: Form W-2 Significance for Pass-Through 20% Section 199A Deduction
January 18, 2018
Reprinted with permission from Bloomberg Daily Tax Report. Any opinions in this article are not those of Winston & Strawn or its clients. The opinions in this article are the author’s opinions only.
Employee Benefits and Executive Compensation Partner and CPA Ruth Wimer discusses new tax code Section 199A and the extraordinarily complex rules and formulas for determining when a taxpayer might exclude up to 20 percent of pass-through trade or business income. Wimer says Form W-2 wages paid to both the taxpayer and others is the key for higher income individuals to obtain the 20 percent exclusion and describes the steps to get there.