Qualified Business Income Deduction
Qualified Business Income Deduction is a Tax Deduction for small business owners to deduct up to 20% of their qualified business income on their taxes.
An employee is generally guaranteed a regular wage amount for an hourly, weekly, or other period of time even when supplemented by a commission. However, independent contractors are most often paid for the job by a flat fee.
Qualified Business Income Deduction is a Tax Deduction for small business owners to deduct up to 20% of their qualified business income on their taxes.