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 ...

The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of the income earned from the business. This deduction is available whether ...

Section 1202 of the Internal Revenue Code was expanded to add additional benefits for QSBS as follows: The QSBS exclusion (previously 100% exclusion for QSBS held at least 5 years) is expanded as ...

The Tax Court held that W-2 wages paid by two S corporations that were not deductible under Sec. 280E in computing their taxable income could not be taken into account in calculating the Sec. 199A ...

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 bill that the House of Representatives passed early Thursday morning in a nail-biting 215-to-214 vote—a wide-ranging domestic policy package called the One Big Beautiful Bill—could have ...

The good news is that the tax code offers many deductions and credits specifically for self-employed workers. If you take the ...