A proposed bill (H.R. 4947) would increase the current 20% deduction for qualified business income of eligible owners of pass-through entities to 43% (and to 47% after 2025). What’s more the QBI deduction would become permanent, rather than expiring after 2025. And most importantly, it would repeal the exclusion for specified service trades or businesses.
Barbara Weltman
Big Ideas for Small Business, Inc.
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