I’ve been a small business accountant for 30 years, long enough to see just about all there is to see when it comes to the U.S. tax system. But, never in my three decades have I seen the level of confusion and disarray caused by the small business deduction enacted by the GOP’s Tax Cuts and Jobs Act passed by Congress last year.
The new law provided for a 20 percent deduction for qualified business income from so-called “pass-through” entities, including corporations and limited liability companies.
