January 18, 2018

Last chance to take the “manufacturers’ deduction”

While many provisions of the Tax Cuts and Jobs Act (TCJA) will save ???? businesses tax, one break it eliminates ❌ is the Section 199 deduction. Often referred to as the “manufacturers’ deduction,” this potentially valuable break, when available, can also be claimed by eligible construction, engineering, architecture, computer software production and agricultural processing businesses. Under the TCJA, 2017 is the last tax year noncorporate taxpayers can take the deduction (2018 for C corps.). Contact us ???? to learn whether you qualify for this break on your 2017 return.