One of the more important provisions of the Tax Cuts and Jobs Act, enacted Dec. 22, 2017, is the new deduction for qualified business income (QBI). It allows a deduction for up to 20% of QBI from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships.
- Can I take the Section 199A deduction on my real estate activity?
- New York State issues guidance on decoupling
- Tax reform – impact on individual tax payers
- Filing past due returns
- 2019 mileage rates
- Foreign bank accounts – when and how to disclose
- Tax reform highlights for business
- Simplifying your home-office deduction
- Depreciation and Section 179 update
- Estimates – how much and when?
- Can I do anything about penalties?
- Tax-exempt checklist
- Have I withheld enough this year?
- Is the IRS calling me?
- Significant new deduction opportunity for pass-throughs