OWN A PASS-THROUGH BUSINESS
One provision of the tax law creates a 20 percent income deduction for the owners and sole proprietors of pass-through businesses, which can include hedge funds, LLCs, and real estate companies such as the president’s. The definition of a pass-through company was also widened, so as well as small businesses, many more highly paid owners in certain industries — such as commercial real estate, with few employees but lots of property value — will be able to qualify for the lucrative deduction.