Free webinar on pass-through tax regulation scheduled for Jan. 30
Modified: January 31, 2019
Article
Author: FAIA Newsroom
The IRS late last week issued final regulations and guidance on a provision of the Tax Cuts and Jobs Act that allows owners of sole proprietorships, partnerships, trusts, and S corporations—this means you, independent agents!—to deduct up to 20 percent of qualified business income on their taxes.
Under the regulation, owners and shareholders of insurance agencies can take the deduction, no matter their taxable income levels, because the IRS does not consider insurance agents to be engaged in a “specified service trade or business.”
The Big “I” will host a free webinar Jan. 30 from 2:30 to 3:15 p.m. ET to help members understand the new regulation.
The webinar will provide a comprehensive explanation of how the new tax deduction benefits pass-through owners and shareholders, including an overview of specific sections of the over 200-page regulation relevant to insurance agencies and brokerages. The webinar will also highlight how the regulation was enacted and the role that Big “I” played in those efforts.
The webinar will be conducted by Big “I” staff Charles Symington, senior vice president of External, Industry & Government Affairs, and Jennifer Webb, senior counsel, Federal Government Affairs.
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