What Is The Qualified Business Income Deduction

Feb 19, 2018

The Tax Cuts and Jobs Act of 2017 was a sweeping tax package that has brought significant tax changes to individuals and corporations. A cornerstone of the Act is the new deduction for “qualified business income” (QBI), also referred to as the “pass-through deduction.” The new law provides individuals, as well as trusts and estates, with a deduction generally equal to 20% of qualified business income from a pass-through entity, such as a partnership, LLC, S-corporation,

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