Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed
qualified business income Archives - Crawford Ellenbogen
Jul 27, 2021
10 facts about the pass-through deduction for qualified business income
- By Joan Ellenbogen
- Business
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Feb 12, 2019
Many tax-related limits affecting businesses increase for 2019
- By Ellenbogen
- Business, Taxes
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A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business. Deductions Section 179 expensing: Limit: $1.02 million (up from $1 million) Phaseout: $2.55 million (up from $2.5 million) Income-based phase-ins for certain limits on