Like it or not, we’re now deep in the heart of tax time. As you may know, Internal Revenue Code Section 199A provides to most owners of New Hampshire businesses a 20% annual federal income tax deduction from their shares of the income of their.
Many thousands of New Hampshire individuals who own single-owner businesses conduct their businesses as sole proprietorships; that is, they don’t use LLCs or other state-law entities to conduct them. All of these individuals owe it to themselves to.
If you are a business owner, your federal tax return will be due on May 17, 2021. For many of you, the most important 2020 federal income tax deduction will be the annual deduction available under Internal Revenue Code section 199A to individuals and.