This timely, brand-new book examines the provisions of Code Sec.199 that created the new deduction on income from domestic production activities under the American Jobs Creation Act of 2004. The new provisions can provide a great benefit to both large and small companies--in all types of industries, not just traditional manufacturing companies. However, in order to obtain the attractive tax benefits, there is a good deal of accounting compliance required.

CCH's Practical Guide to the Sec. 199 Deduction describes the ins and outs of the tax benefits, who qualifies and how to qualify. It explores what considerations have to be made, how to calculate the deduction, special planning opportunities that may be available and pitfalls to avoid. This enlightening guide offers a straightforward and practical explanation of how the deduction works, how to track and report qualifying costs and revenues, and it provides extensive examples to illustrate the concepts and help the reader grasp the complexities.

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Chapter 2
Chapter 9