QBI includes the income, minus wage income, deductions, applicable gains and losses, for every eligible pass-through business that a taxpayer operates in the United States or Puerto Rico. This income ...

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 ...

Rep. Gwen Moore, D-Wisconsin, a member of the tax-writing House Ways and Means Committee, introduced legislation Thursday to expand the Section 199A Qualified Business Income deduction to provide a ...

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 ...

In this fourth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), Steve Nofziger and I discuss a provision of the Act that impacts pass-through business entities and ...

The 2017 tax reform legislation fundamentally changed the tax treatment of pass-through business entities through the enactment of Section 199A. The 20% deduction for qualified business income (QBI) ...

When President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) on July 4, small business owners gained access to tax reforms designed to reshape how they invest, grow and plan for the next ...