The IRS recently issued proposed regulations explaining the new tax law’s 20% “qualified business income deduction” (QBID) for pass-through entities (PTE). The deduction is off-limits to those working in law, architecture, engineering, insurance, financial services, consulting, health, and other professional services. One idea to get around this restriction was to split up a business into smaller entities, but the regs KO’d that idea. But another strategy has surfaced: using a cash balance plan (a form of defined benefit plan) to sidestep the new law’s restriction, according to a report in Bloomberg.