199A Deduction Calculator
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    Calculation of 199A Deduction
    Created by: J.F. “Jack” Howell III and Christopher D. Jones
     
    General Information  
    Filing Status
       *Does not take into account limit tied to net capital gains*
    NIIT?
     
    Specified Service Trade or Business
    Taxable Income (including owner comp):
    QBI
    Reasonable Compensation
    W2 Wages paid to other employees
    Unadjusted Basis of Qualifed Property:
         
    Sole Proprietorship  
    Taxable Income
       
    QBI
     
    199A Deduction  
    Deduction of 1/2 SE Tax
     
    Income after deductions:  
    Income Tax:
    Self Employment Tax:
    NIIT
    Total Taxes:
    Income after taxes:
    Effective Rate
     
    S-Corp/LP  
    Taxable Income
    Owner's salary
    QBI
     
    Formula 1 Deduction  
    Formula 2 Deduction
    Phase-In Deduction Limit
    199A Deduction
     
    199A Deduction
    Deduction of 1/2 SE Tax
     
    Income after deductions:  
    Income Tax:
    Self Employment Tax:
    NIIT
    Total Taxes:
    Income after taxes:
    Effective Rate
     
    C-Corporate Rate  
     
    Corporate Income  
    Owner's salary
    Employer Taxes on Owner's salary
    Net Corporate Income
    Corporate Tax (21%)
    Available for Dividend
    Owner's salary
     
    Tax on Dividend  
    Income Tax on Salary and other income
    Employee Taxes
    NIIT
    Total Individual Taxes
    Total Income after Taxes
    Effective Rate
           
     
    NOTE: THIS SPREADSHEET IS INTENDED ONLY FOR DISCUSSION AND IS NOT TO BE RELIED UPON BY ANY PRACTITIONER FOR ANY OTHER PURPOSE. NOTHING IN THIS SPREADSHEET SHALL CONSTITUTE TAX OR LEGAL ADVICE BY THE PRESENTER OR BY SPROUSE SHRADER SMITH PLLC.