Rep. Gwen Moore, D-Wisconsin, a member of the tax-writing House Ways and Means Committee, introduced legislation Thursday to expand the Section 199A Qualified Business Income deduction to provide a ...
For businesses taxed on their income at the entity level, most commonly organized as C corporations, the TCJA dramatically reduced the corporate income tax rate from a graduated rate topping out at 35 ...
In this fourth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), Steve Nofziger and I discuss a provision of the Act that impacts pass-through business entities and ...
A coalition of advisor advocates and firms, such as LPL Financial, Commonwealth and Raymond James, is urging Congress to reform tax law so advisors can claim a deduction on business income after the ...
The Tax Court held that W-2 wages paid by two S corporations that were not deductible under Sec. 280E in computing their taxable income could not be taken into account in calculating the Sec. 199A ...
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 ...
SALT deduction cap temporarily raised from $10,000 to $40,000. PTETs allow businesses to bypass federal deduction limits. OBBBA permanently instates the 20% qualified business income deduction. Tax ...
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