Watch Benjamin M. Willis, contributing editor with Tax Notes Federal, and Jed Bodger, vice president of taxation at the Sierra Nevada Corp., discuss their recent article examining how the Biden-Harris ...

QBI includes the income, minus wage income, deductions, applicable gains and losses, for every eligible pass-through business that a taxpayer operates in the United States or Puerto Rico. This income ...

Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.

Section 199A, enacted as part of the Tax Cuts and Jobs Act of 2017, provides a deduction to non-corporate taxpayers of up to 20 percent of the taxpayer’s “qualified business income” generated from the ...

Rep. Gwen Moore, D-Wisconsin, a member of the tax-writing House Ways and Means Committee, introduced legislation Thursday to expand the Section 199A Qualified Business Income deduction to provide a ...

The House Ways and Means Committee released their income tax proposals on Monday September 13. As part of that guidance was a proposal to limit the Section 199A deduction to $400,000 for single ...

We have gotten multiple comments on the blog over the last few weeks on Section 199A. I am using today's blog post as a simple Q & A in answering some of these comments. I assume that we would limit ...