pass-through deduction

What is the Pass-Through Deduction?

Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations.

2021-07-20T12:02:27-06:00July 20th, 2021|

9 Tax Rules and Considerations When Starting Your Own Business

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20% pass-through deduction,

2021-04-12T14:54:35-06:00February 19th, 2020|
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