An important component of success in the business worid and in graduate school is that you be
able to effectively communicate your ideas in writing. As many of you know, or will soon learn,
Congress passed a sweeping overhaul of the Internal Revenue Code (“Code”) at the end of 2017.
This legislation, commonly referred to as the “Tax Cuts and Jobs Act of 2017,” introduces
various tax provisions to the federal internal revenue laws which can benefit individuals and
businesses. You should write a three- to five-page memorandum on one of the following topics
of your choosing:
- Section 199A Deduction for Qualified Business Income: Discuss the deduction
under section 199A of the Code for qualified business income from a qualified
trade or business. You should frame your discussion by assuming that ourprospective client, an individual
who owns rental real estate through a limited
liability company taxed as a partnership, wants to understand the deduction
generally and whether he is eligible for that deduction.
Sample Solution