Through the 2018 plan year, most people must have qualifying health coverage or pay a fee (sometimes called the “mandate,” “Shared Responsibility Payment,” or “penalty”) for the months they don’t have insurance. But if you qualify for a health […]
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IRS Releases Guidance for Section 199A Pass-Through Deduction
Below are answers to some basic questions about the new 20-percent deduction for pass-through businesses. Also known as the section 199A deduction or the deduction for qualified business income, the deduction was created by the […]
California Amends Regulations On Allocation, Apportionment of Partnership Income
California has amended regulations to clarify that the allocation and apportionment rules for partnership income also apply to partnership interests held indirectly by taxpayers. Previously, the rules applied only to partnership interests held directly by […]