QBI Pass-Through Deduction
Also known as QBI or 199A deduction, the TCJA introduced a new significant 20% deduction for small and medium business owners. The benefit phases out for service businesses with profits >$161/$321 (Single/MFJ), while they phase in for non-service businesses based on wages paid and property value. Sole Proprietors, LLCs and S-Corps use pass-through taxation in […]
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