February 2018
Business owners should take notice of a substantial new tax deduction created by the recently enacted Tax Cuts and Jobs Act. The deduction can be taken in 2018 for qualified business income (QBI) that comes from a pass-through entity, which includes S corporations, LLCs, or sole proprietorships. This tax-savings opportunity is a bit complex, so here is a brief overview of who qualifies and how the deduction works.
