The New Section 199A Business Income Deduction

By GCKAccounting

The Tax Cuts and Jobs Act (TCJA) of 2017 significantly altered the tax law in the United States to promote economic expansion by reducing taxes on both people and corporations. One particularly noteworthy feature is Section 199A, generally called the Qualified Business Income (QBI) deduction. For certain business owners, this deduction offers significant tax benefits…

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