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 ...

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 ...

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 ...

Under the newly enacted Internal Revenue Code Section 199A, owners of pass-through entities, such as LLCs, partnerships, trusts, sole proprietorships, and S corporations, may deduct up to 20% of their ...

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 ...

Section 199A, part of the 2017 Tax Cuts and Jobs Act (the “Tax Act”), permits owners of non-corporate businesses to deduct up to 20 percent of the owner’s share of income from the business. Like many ...