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IRS Issues Proposed Guidance on Complicated QBI Deduction Rules

QBI Deduction

Here are some key definitions and limitations that will be critical for many business owners to understand as they plan for the rest of the 2018 tax year.

The IRS has finally issued eagerly awaited regulations addressing the new deduction for up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction was a major piece of the Tax Cuts and Jobs Act, which was signed into law last December. Read more