Latest Breaking News On - திரையரங்கம் தகவல்தொடர்புகள் - Page 1 : comparemela.com

REGISTER NOW Two lawmakers in the House reintroduced bipartisan legislation Wednesday to change a provision in the Tax Cuts and Jobs Act that makes it difficult for performers to deduct business expenses. The Performing Artist Tax Parity Act, sponsored by Rep. Judy Chu, D-California, and Vern Buchanan, R-Florida, would update the Qualified Performing Artist tax deduction to help artists deduct work-related expenses. The Tax Cuts and Jobs Act of 2017 mostly eliminated the ability to claim miscellaneous itemized deductions that used to allow performing artists to deduct their work expenses. Elimination of the deductions has caused many artists to pay thousands more in taxes. The proposed legislation would correct this problem by updating the thresholds of the Qualified Performing Artists Deduction to enable more lower and middle-income performing artists to claim it.

United statesKate shindleMatthewd loebJudy chuVern buchananGabrielle carterisTheatre communications groupInternational alliance of theatrical stage employeesActor equity associationAmerican federation of musiciansSmall business administration shuttered venue operators programTax cutsJobs actPerforming artist tax parity actQualified performing artistQualified performing artists deduction