Business owners whose income passes through their personal income tax return.
With the passage of the Tax Cuts and Jobs Act, small businesses are positioned to receive the most significant tax break seen in over five decades.
Effective for the 2018 tax year to be filed in 2019.
The PBMares Qualified Business Income Deduction Flowchart is designed to help you understand how the tax would be applied to your specific situation.
Author(s): PBMares Tax Team