Industry Groups Ask for Tax Break for Independent FAs

Broker-dealers and industry trade groups are urging Congress to include independent financial advisors in the category of small businesses eligible for a tax write-off as part of Section 199A of the 2017 Tax Cuts and Jobs Act. Erin Koeppel, Managing Director of Government Relations at CFP Board, emphasized that expanding access to this deduction would strengthen the financial planning profession and improve access to ethical financial planning for more Americans.

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