In this fourth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), Steve Nofziger and I discuss a provision of the Act that impacts pass-through business entities and ...

As 2025 approaches, members of Congress are seriously evaluating many of the 2017 tax reform provisions that are scheduled to expire after 2025. One provision gaining significant attention is the 20% ...

Entities that are taxed under the rules governing pass-through taxation are generally entitled to a 20 percent deduction for qualified business income (QBI, see Q 8931). This deduction is equal to the ...

Section 199A dividends are distributions from the profits of domestic real estate investment trusts (REITs) that qualify for a special 20% tax deduction. Investing in Section 199A dividends can ...

Senate Republicans will soon debate trillions of tax breaks approved by House lawmakers, including a bigger deduction for small business owners, contractors, freelancers and gig economy workers.

For businesses taxed on their income at the entity level, most commonly organized as C corporations, the TCJA dramatically reduced the corporate income tax rate from a graduated rate topping out at 35 ...

SALT deduction cap temporarily raised from $10,000 to $40,000. PTETs allow businesses to bypass federal deduction limits. OBBBA permanently instates the 20% qualified business income deduction. Tax ...

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 ...

Cannabis businesses' wages are ineligible for business income deductions for pass-throughs because they sell controlled substances, according to the U.S. Tax Court. The ruling on Sept. 11, 2025 ...