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Staffing industry secures a big income tax win, officially eligible for new 2018 tax break

from Citrin Cooperman

Final regulations issued by the IRS last week affirmed that most staffing firms will indeed be eligible for the new 2018 “pass-through entity” tax deduction, under the Tax Cuts and Jobs Act (TCJA). The new tax break allows owners of certain “pass-through” business entities (S-corporations, LLCs, LLPs, partnerships, and sole proprietorships) to potentially deduct up to 20% of “Qualified Business Income” – or “QBI” - from federal taxable income. more

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