The Qualified Business Income (QBI) Deduction
01.What is QBI?
there under the Tax Cuts and Jobs Act, the QBI deduction allows eligible pass-through business owners (LLC, S-Corp, Partnership) to deduct up to 20% of their qualified business income.
02.Income Limits & SSTB
Deduction limits apply based on your total taxable income. Special rules apply to Specified Service Trades or Businesses (SSTBs) such as lawyers, doctors, and financial consultants.
03.Maximizing the Deduction
Consulting Warren CPA Group is critical to structuring your business salary and profit distribution properly to maximize your eligibility for this 20% tax write-off. Schedule a QBI planning session.