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TAG: Section 199A

Section 199A: Tax reform’s gift to small businesses

November 15, 2019By
Tax form (Photo: iStock.com/Designer491)

Section 199A, passed as part of the December 2017 tax reform, gives many small business owners a deduction determined with respect to their qualified business income (QBI). Generally, QBI is domestic income from a trade or business received by a sole proprietor or by an individual from a flow-through business (a partnership, LLC, S corporation, trust or estate). Why would... read more