Category: Blog

Section 199A: How much do you know about the 20% deduction and do you qualify?

One of the largest changes of the Tax Cuts and Jobs Act is the Section 199A deduction. This new section allows taxpayers to deduct 20% of his or her Qualified Business Income (QBI) from passthrough entities. However, not all taxpayers will maximize their benefit or benefit at all from this new deduction, which is why […]