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PETWAY MILLS & PEARSON, PA.
Certified Public Accountants
PETWAY MILLS & PEARSON, PA.PETWAY MILLS & PEARSON, PA.
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Daily Archives: October 22, 2018

Maximize Your Qualified Business Income Deduction

PMP NewsBy Lisa McMahonOctober 22, 2018

You may have heard a lot of talk in the news about a new deduction for “pass-through” income, but it’s actually available for qualified business income from a sole proprietorship (including a farm), as well as from pass-through entities such as partnerships, LLCs, and S corporations. Under the TCJA, individuals may deduct up to 20%…

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