199A: Qualified Business Income Deduction

Established in the Tax Cuts and Jobs Act (TCJA) of 2017 under Section 199A, the Qualified Business Income (QBI) deduction allows taxpayers a deduction of up to 20% of income received from a sole proprietorship or pass-through businesses (e.g., partnerships, S corporations, trusts, and estates). You may also hear of it referenced as simply a […]