Congress proposes to restore tax deductions for performing artists
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. Eli...
Source: accountingtoday.com
