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 ...

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 ...

Watch Benjamin M. Willis, contributing editor with Tax Notes Federal, and Jed Bodger, vice president of taxation at the Sierra Nevada Corp., discuss their recent article examining how the Biden-Harris ...

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 ...

We have gotten multiple comments on the blog over the last few weeks on Section 199A. I am using today's blog post as a simple Q & A in answering some of these comments. I assume that we would limit ...

Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.

The House Ways and Means Committee released their income tax proposals on Monday September 13. As part of that guidance was a proposal to limit the Section 199A deduction to $400,000 for single ...

Section 199A, part of the 2017 Tax Cuts and Jobs Act (the “Tax Act”), permits owners of non-corporate businesses to deduct up to 20 percent of the owner’s share of income from the business. Like many ...