Latest Tax News Tax Advice for Businesses

Does my Business Qualify for QBI Deductions?

What is a QBI deduction? Qualified business income (QBI) deductions are one of the most talked about changes of the 2017 Tax Reform. This new tax break allows individuals and some estates and trusts who own pass-through entities—partnerships, LLCs, S Corporations and sole proprietorships—to deduct 20% of their QBI from their taxable income.  QBI deductions […]