In IR-2018-2003, the IRS reminded small business owners that the Tax Cuts and Jobs Act (TCJA) includes many changes that may reduce or change their taxes. While there are approximately two months left in the calendar year, many small businesses may still benefit from making changes before December 31.
Qualified Business Income Deduction - The 20% deduction for qualified business income (QBI) will be available for 2018 federal income tax returns. The Sec. 199A deduction is generally available to pass-through businesses. More information is available through the Sec. 199A frequently asked...More