Ask the Editor, November 14: 20% Qualified Business Income Deduction

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the 20% deduction for qualified business income or QBI ...
AOL

The Qualified Business Expense Tax Credit Expires Soon -- Here's What It Could Cost Your Small Business

In 2017, Congress passed the Tax Cuts and Job Act (TCJA), which introduced sweeping changes to the tax code, including a tax cut called the Qualified Business Income deduction. This bill allowed ...
Financial Planning

The QBI deduction's impact is as murky as its rules, report finds

A significant but complicated tax deduction for business owners that could expire at the end of next year has delivered savings for some — especially the wealthiest owners. Its impact on jobs and ...
Financial Planning

Economists want to trash the QBI deduction. What will voters say?

A sizable tax deduction for the qualified business income of pass-through entities faces potential expiration next year. A panel of university economists and one of the most influential think tanks in ...
JD Supra

Tax Court: Cannabis Business Wages Ineligible for Qualified Business Income Deductions

Cannabis businesses' wages are ineligible for business income deductions for pass-throughs because they sell controlled substances, according to the U.S. Tax Court. The ruling on Sept. 11, 2025 ...
Construction Business Owner

6 OBBBA Provisions Reshaping Construction Tax Strategies

On July 4, the One Big Beautiful Bill Act (OBBBA) was signed into law. The OBBBA is a broad reconciliation bill comprised of ...
NBC New York

House Republican budget bill calls for bigger ‘pass-through' business tax break. Who could benefit

Senate Republicans will soon debate trillions of tax breaks approved by House lawmakers, including a bigger deduction for small business owners, contractors, freelancers and gig economy workers.