Qualifying for the QBI Deduction: More Ways to Drive Down Income for Small Business Owners
Dec 3, 2018
/
By Debra Taylor, CPA/PFS, JD, CDFA
The new tax law’s QBI deduction provides a 20% tax deduction for pass-through business owners, but upper-income proprietors in service trades (like law or financial advising) will not qualify if their income exceeds a certain threshold. Here are personal and business income strategies to keep them under the limit.