In his Tax Tips column, Sidney Kess writes: Owners of pass-through entities may be able to take a 20 percent deduction for their qualified business income. This personal deduction lowers the effective ...

Forbes contributors publish independent expert analyses and insights. Leading writer and speaker in the area of trader tax benefits. Like many small business owners, traders eligible for trader tax ...

Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLPs), making them owners of pass-through ...

The 2017 Tax Cuts and Jobs Act has resulted in numerous changes to the tax laws— both on the individual and business levels. Some of the most impactful changes affecting 2018 and beyond are those ...

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 ...

The Senate Finance Committee posted the legislative text for the “Tax Cuts and Jobs Act” bill. There are five haircuts on calculating the deduction on qualified business income (QBI) for pass-through ...

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 ...

One of the more dramatic provisions of the Tax Cuts and Jobs Act of 2017 is known as the “Qualified Business Income Deduction” (QBI). The new QBI deduction is complex and regulations to explain the ...

The IRS on Friday posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A.

One of the top-of-mind questions business clients look to accounting professionals for guidance on is, "Which entity type will maximize my tax deductions and minimize tax liability?" Processing ...

A significant but complicated tax deduction for business owners that could expire at the end of next year has delivered savings for some — especially the wealthiest owners. Its impact on jobs and ...

Although losses are usually beneficial for tax purposes, losses from passthrough entities potentially adversely affect the 20% qualified business income (QBI) deduction under Sec. 199A. These losses, ...