WASHINGTON (January 22, 2019) – Late last week, the Treasury Department and the Internal Revenue Service issued final regulations regarding the new 20 percent deduction on qualified business income. As Americans begin preparations for the 2018 tax filing season, real estate professionals have been uncertain about the true impact of the 2017 Tax Cuts and Jobs Act on their respective businesses. Friday’s ruling from Treasury and the IRS, however, signaled a significant victory for the real estate industry and for many of the National Association of Realtors®’ 1.3 million members.
“Friday’s ruling is a result of several months of advocacy and collaboration between NAR, our members, and the administration,”... ...moreRSK: Timely for this year`s income taxes and for next years planning.
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- - Volume: 7 - WEEK: 5 Date: 1/29/2019 9:59:20 AM -