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 ...
Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.
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 ...
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 ...