One of the most confusing aspects of the 20 percent qualified business income deduction enacted as part of the Tax Cuts and Jobs Act — and one that is an issue even for pass-through owners under the ...

Owners of pass-through entities may be able to take a 20 percent deduction for their qualified business income (QBI) (Code §199A). This personal deduction lowers the effective tax rate on profits from ...

The qualified business income deduction, also known as QBI, is one of the most powerful deductions still on the books for ...

Along with the recent issuance of regulations under section 199A of the Internal Revenue Code (“I.R.C.”), the Internal Revenue Service (“the Service”) also published a revenue procedure setting forth ...

One of the big windfalls for real estate investors and professionals in the 2017 Tax Cuts and Jobs Act is the opportunity to take up to a 20 percent deduction of income from pass-through entities.

Beginning with the 2018 taxable year, owners of pass-through entities engaged in qualified businesses can claim a U.S. federal income tax deduction up to 20 percent on their qualified business income.

If you’re a landlord, your rental property not only brings you extra income but can allow you to write off tax deductions to lower your tax liability. From repairs and maintenance to mortgage interest ...

The IRS issued a revenue procedure that provides a safe harbor for taxpayers and relevant passthrough entities (RPEs), under which a “rental real estate enterprise” will be treated as a trade or ...

On April 9, Annette Nellen, the chair of the AICPA Tax Executive Committee, sent a letter to Treasury and to the IRS Chief Counsel’s Office asking for additional guidance on the Sec. 199A deduction ...