Veterinarians Qualify For New Tax Deduction

Small business owners in the veterinary world will now qualify for a “pass through” deduction on their federal income tax, according to the U. S. Treasury Department.

The Treasury Department and the Internal Revenue Service released regulations last week explaining how sole proprietorships, partnerships, trusts and S-corporations can apply the deduction under Section 199A of the tax code.  The deduction was included in the Tax Cuts and Jobs Act, which takes effect for the current tax year.

Read more at AVMA.com.

The post Veterinarians Qualify For New Tax Deduction appeared first on Horse Racing News | Paulick Report.

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