Image source: Getty Images In 2017, Congress passed the Tax Cuts and Job Act (TCJA), which introduced sweeping changes to the tax code, including a tax cut called the Qualified Business Income ...
Enacted via the Tax Cuts and Jobs Act of 2017, the qualified business income deduction, or QBI, is worth up to 20% of eligible revenue, subject to limitations. That tax break is scheduled to expire ...
For 2025, the Section 199A deduction for qualified business income, or QBI, is worth up to 20% of eligible revenue, with some limitations. This applies to so-called pass-through businesses, including ...
Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Business owners, it’s time to talk about one of the most powerful deductions still on ...
As we approach what is being called the "Super Bowl of Taxes" in 2025—the scheduled sunset of key provisions in the Tax Cuts and Jobs Act (TCJA)—there's a benefit at risk that few in the child care ...
Freelancing can be notoriously difficult, but a new tax break might make things easier" that is, if you're already wildly successful. The One Big Beautiful Bill Act will permanently extend and enhance ...
High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...
A sizable tax deduction for the qualified business income of pass-through entities faces potential expiration next year. A panel of university economists and one of the most influential think tanks in ...
The Tax Court held that W-2 wages paid by two S corporations that were not deductible under Sec. 280E in computing their taxable income could not be taken into account in calculating the Sec. 199A ...
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