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One such deduction that has gained significant attention in recent years is the Qualified Business Income Deduction (QBID). Enacted as part of the Tax Cuts and Jobs Act (TCJA) in 2017, the QBID offers substantial tax savings for eligible taxpayers. In this article, we...
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Still, other business owners have evaluated the merits of changing their business entity structure in response to the 2017 Tax Cuts and Jobs Act changes, including the QBID. Many single-member LLC owners and other qualified businesses use Schedule C to calculate their...
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