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 ...

As we approach what is being called the "Super Bowl of Taxes" in 2025—the scheduled sunset of key provisions in the Tax Cuts and Jobs Act (TCJA)—there's a benefit at risk that few in the child care ...

Freelancing can be notoriously difficult, but a new tax break might make things easier" that is, if you're already wildly successful. The One Big Beautiful Bill Act will permanently extend and enhance ...

Senate Republicans will soon debate trillions of tax breaks approved by House lawmakers, including a bigger deduction for small business owners, contractors, freelancers and gig economy workers.

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 ...

The One Big Beautiful Bill comes with new tax provisions that will immediately affect taxpayers retroactive to the start of this year and beyond. Find Out: I Asked ChatGPT What Trump’s ‘Big Beautiful ...

As Senate Republicans debate trillions of tax breaks advanced by the House, some business owners could be blocked from part of the proposed windfall, policy experts say. Stream NBC 5 for free, 24/7, ...

For 2025, the Section 199A deduction for qualified business income, or QBI, is worth up to 20% of eligible revenue, with some limitations. This applies to so-called pass-through businesses, including ...