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.
- PPP update
- Unemployment benefits extended to self-employed under CARES Act
- How will the Coronavirus Aid Relief and Economic Security (CARES) Act impact me?
- IRS issues guidance on deferring tax payments due to COVID-19 Outbreak
- 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?