Not fair at all! Entertainers and athletes do not benefit, while many other businesses do. The surprise winners (and losers) in this year’s tax season – a CBS News article featuring Harvey’s commentary.
The new tax law 20% QBI Pass-Through Deduction provides a huge tax savings for most businesses. However, some businesses are excluded from enjoying this brand new tax savings provision.
Please see the attached article for further expansion on this topic: https://www.cbsnews.com/news/2019-tax-returns-the-surprise-winner-in-this-years-tax-season/