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 ...
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, ...
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 ...
See my more recent blog post: A Rationale For Using QBI Tax Treatment For Traders. Traders in securities and/or commodities, qualifying for trader tax status (TTS) as a sole proprietor, S-Corp, or ...
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