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Close Up: QBI Deduction’s Wage Limit

The TCJA’s new deduction for owners of pass-through entities can be 20% of qualified business income. But a wage-based limit applies if an owner’s taxable income exceeds certain levels. Find out how the limit works.

TCJA & Business Losses

Pass-through business owners: When can losses be deducted? How much can you deduct in any given year? The TCJA has changed some rules, and you won’t find the changes favorable.