Dear FPA Members, as we near a likely budget resolution in Congress, it will soon be time for legislators to begin drafting new tax legislation. Congress is considering extending the expiring provisions of the Tax Cuts and Jobs Act of 2017 (TCJA), which includes the 199A pass-through deduction for specific small businesses. However, financial advisors, financial planners, and investment advisors are not eligible to benefit from this deduction if their overall taxable income exceeds certain thresholds.
FPA has been on the Hill meeting directly with Members of the House Ways and Means and Senate Finance Committees who are drafting tax legislation, asking them to extend and expand Section 199A. Now, your legislators need to hear directly from you!
Send a message to your members of Congress, urging them to expand Section 199A to allow independent financial advisors to benefit from this vital tax deduction!
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