Section 199 provides a permanent tax benefit based on a taxpayer's income from a wide range of domestic production activities. What you may not realize is that these activities extend well beyond the scope of traditional manufacturing and include certain contract production, oil and gas production, software development, film production, and construction and engineering activities.
Identifying the activities and revenues that qualify for the Section 199 deduction requires knowledge of the deduction as well as a review of existing expense and cost allocation methodologies. An experienced advisor can help you understand these complex rules and the opportunities available to allow you to maximize the deduction for your business.
Our National Tax Office professionals have the expertise and resources needed to navigate and apply complex tax laws such as the Section 199 deduction. You can expect comprehensive tax services delivered with a personal, tailored approach, so you can feel confident you are making the right business decisions.
Watch our Section 199 video to learn more.
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