John Tatoian
Attorney & Counselor At Law
150 Harbour Close Unit 306
New Haven CT 06519
Worldwide Cell:(860) 490-4138
JTATOIANLAW@GMAIL.COM
United States District Court of Massachusetts, United States District Court of Connecticut & the State Court of Massachusetts
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20% Pass Through Deduction
Pass through business entities (Partnerships,LLC's,LLP's, S Corps) are subject to the pass through deduction of 20% of its income limited by its total taxable income & further limited by the greater of 50% of wages or 25% of wages + 2.5% basis in property.
The deduction is available to all pass through conduits with the exception of certain service firms with income above $207,500/ $415,000 & service firms with income between $157,500/315,000 (single filers) & $207,500/ $415,000 ( married filers) in which case the deduction is subject to phaseout.
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