QBI includes the income, minus wage income, deductions, applicable gains and losses, for every eligible pass-through business that a taxpayer operates in the United States or Puerto Rico. This income ...

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 ...

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 ...

And in computing that 199A deduction, they included all the wages they had paid in their W-2 wage limit, and the IRS said, "No can do." If the wages are not deductible, they shouldn't be in your W-2 ...

Tax season continues on Capitol Hill, and just like so many Americans ahead of the April 15 deadline, lawmakers are tired and confused as they work on this large and sweeping legislation. In a hearing ...

The American Society of Travel Advisors (ASTA) is applauding the advancement of important legislation impacting travel advisors' tax returns. New legislation promoted by the House Ways and Means ...