Christine Hradsky No Comments

When Is Service Business Income Eligible for the New QBI Deduction?

Service Business

Some service businesses may be hit with a QBI deduction disallowance rule if their owners’ taxable income is above certain levels

The IRS has issued much-anticipated regulations addressing the new deduction of 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 that was signed into law in December 2017.  Read more