The Tax Court determined that W-2 wages that are not deductible under Sec. 280E in calculating taxable income are not included when calculating the Sec. 199A qualified business income (QBI) deduction.

For 2025, the Section 199A deduction for qualified business income, or QBI, is worth up to 20% of eligible revenue, with some limitations. This applies to so-called pass-through businesses, including ...

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Business owners, it’s time to talk about one of the most powerful deductions still on ...

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 ...

Freelancing can be notoriously difficult, but a new tax break might make things easier" that is, if you're already wildly successful. The One Big Beautiful Bill Act will permanently extend and enhance ...

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 ...

High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...

With over a dozen credit cards and millions of credit card points racked up, Nancy Jiang condenses the complex world of card-churning for maximum rewards with minimum effort. Her work has been ...