2023年12月1日 · Qualified business income (QBI) 20% deduction (Sec. 199A): Owners of passthrough businesses, such as partnerships and S corporations, as well as sole proprietorships, may currently claim a deduction of up to 20% of QBI. Beginning in 2026, the Sec. 199A QBI deduction no longer will be available.

Many owners of sole proprietorships, partnerships, S corporations and some trusts and estates may be eligible for a qualified business income (QBI) deduction – also called the Section 199A deduction – for tax years beginning after December 31, 2017.

2024年10月8日 · The QBI deduction is scheduled to expire by the end of 2025, potentially increasing the tax burden for many small-business owners and independent contractors. The expiration will affect owners of sole proprietorships, partnerships, LLCs and S corporations.

2024年6月25日 · Qualified Business Income (QBI) deduction sunsets – After the 2025 sunset, this deduction is scheduled to go away completely. The QBI deduction was created to provide parity for small business owners versus the C corporation tax rate having been cut down to 21%.

The TCJA created the QBI deduction, which is an automatic 20% deduction off topline revenues for pass-through entities, including S corporations and partnerships.

2024年7月16日 · Enacted via the Tax Cuts and Jobs Act of 2017, the qualified business income deduction, or QBI, is worth up to 20% of eligible revenue, subject to limitations. That tax break is scheduled to...

2024年7月10日 · The Section 199A deduction for Qualified Business Income (QBI) – which provides a deduction for owners of partnerships, S corporations, and sole proprietorships of up to 20% of the lesser of the taxpayer's QBI or their taxable income – will expire at the end of 2025. These changes have a few key implications.

2023年8月23日 · This resulted in a new and substantial tax benefit for most non-C corporation business owners in the form of a deduction that is generally equal to 20% of their qualified business income (QBI). If allowed to sunset with the TCJA, businesses (generally small businesses) will lose a substantial deduction.

2024年4月10日 · With 2024 underway, it’s now use-it-or-lose-it time for the write-off. Here’s what you need to know to cash in on the QBI deduction. The QBI deduction can be up to 20% of: QBI from a pass-through business entity, meaning an S corporation, a partnership or an LLC that’s treated as a partnership for federal income tax purposes.

2024年7月15日 · TCJA sunset provisions expiring in 2025 will bring significant tax changes. Understand how the changes will impact your finances and learn key strategies to prepare.