Question : Question on Tax Cuts Jobs Act -<br/>I want to ask whether my company would be qualified for the new TCJA 20% deduction. I just formed a company which offers tech-related consulting services to other companies. I would usually work at a client’s site, or from home, occasionally I might need hire contractors to help big projects. I read that TCJA doesn’t apply to some professional fields. Will my situation, and nature of my work would prevent me from being qualified for 20% deduction?Also, I read there is a threshold amount, if the taxable income below the threshold amount, the specified service trades or businesses don’t apply. I hope to confirm with a professional person that whether my company falls in the category of specific service trades and businesses which are limited for getting TCJA deduction.Thanks a lot for your help. Jin
<br /><br />
Answer : That sounds like IT project assistance. Consulting would be if you provided suggestions on how to improve their technology, what software to use, what software or computer or router would fit their current needs and such. It sounds like you will not be classified as a specified service business.
Need Help Writing an Essay?
Tell us about your assignment and we will find the best writer for your paper.Get Help Now
I lOVE this Professional essay writing website. This is perhaps the fifth time I am placing an order with them, and they have not failed me not once! My previous essays and research papers were of excellent quality, as always. With this essay writing website, you can order essays, coursework, projects, discussion, article critique, case study, term papers, research papers, research proposal, capstone project, reaction paper, movie review, speech/presentation, book report/review, annotated bibliography, and more.
Post your homework questions and get original answers from qualified tutors!