Last Chance For Pre-Retired Professionals & Biz Owners

Consider a dentist in her peak earnings years, with $500,000 of income. She's married, and her children are out of the house. The 35% federal tax bracket bites deeply into her income.

Because she is a partner in a business and it is not a "C corporation," she also qualifies for a 20% deduction under Section 199A of the new tax code for owners of small business that are S corps, LLCs, sole proprietorships, or other pass-through entities. To get this extra tax break, her taxable income must not exceed $315,000 for a married couple ($157,500 for a single).

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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