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Senate bill would expand pass-through tax deduction to advisers The bill, which was written by Senate Finance Chairman Ron Wyden, D-Ore., would limit the benefit to individuals earning less than $400,000 a year. July 20, 2021 2 MINS Legislation introduced Tuesday by the Senate’s top tax policy writer would make brokerages and investment advisory firms eligible for a small-business tax break established by the 2017 tax reform law. However, the bill also would limit the benefit to people earning less than $400,000. Sen. Ron Wyden, D-Ore. and chairman of the Senate Finance Committee, wrote the bill, the Small Business Tax Fairness Act, in part to expand the number of businesses set up as so-called pass-throughs such as partnerships and sole proprietorships that qualify for a 20% tax deduction.

United statesMiller chevalierAndy howlettRon wydenNeil simonSenate finance committeeInvestment adviser associationRepublican congressSequoia financial groupSmall business tax fairness actLeon labrecqueSequoia financialMain streetஒன்றுபட்டது மாநிலங்களில்மில்லர் செவாலியர்ஆண்டி ஹவ்லெட்