St. Charles Chamber of Commerce issued the following announcement on June 8.
Savant Capital Management, a nationally-recognized, fee-only wealth management firm, will co-host with the Rockford Chamber of Commerce an important presentation for business owners about recent tax deduction changes on June 20. The event takes place from 7:30 to 9:30 a.m. at the NIU Rockford Conference Center, 8500 E. State St.
Savant’s Managing Director Chris Plagge and Wealth Transfer Advisor Andy Welp will provide critical insights into the new section 199A deduction that was created in the recent Tax Cuts and Jobs Act. This deduction is applicable to anyone with an ownership interest in a business entity where the sole level of income taxation occurs on the individual tax payer’s return. This includes businesses that are set up as a Sole Proprietor, S-Corp, Partnership or certain Limited Liability Companies (LLCs)
“This is a very important discussion to have with area business owners,” said Welp. “Individuals still have time to plan and alter business structures to take full advantage of the deduction. Properly structuring the type of entity an individual operates and how he/she pays expenses can mean the difference between a 20 percent deduction and zero deduction.”
There is no cost to attend this event, but registration is required. To register for the “Tax Cuts and Jobs Act: Understanding the New Section 199A Pass-Through Income Deduction” presentation or for more information visit RockfordChamber.com.
Original source can be found here.
Source: St. Charles Chamber of Commerce
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