Keep the 20% QBI Deduction

Currently, owners of pass-through entities can take a deduction of 20% of business income on their personal returns to effectively lower the tax rate on their share of profits, assuming limitations don’t apply to them. This qualified business income (QBI) deduction is scheduled to expire at the end of 2025. The Main Street Tax Certainty Act of 2025 (similar to a 2024 proposal) would make the deduction permanent. A coalition of more than 200 small business advocacy groups and trade associations sent a letter to Congress expressing support for this measure. #IdeaoftheDay