Qualified Business Income Deduction
What the 2018 tax brackets,standard deductions and more look like under tax reform
The qualified business income deduction (QBI) is a tax deduction that allows eligible self-employed and small-business owners to deduct up to 20% of their qualified business income on their taxes. In general, total taxable income in 2020 must be under $163,300 for single filers or $326,600 for joint filers to qualify.
What the 2018 tax brackets,standard deductions and more look like under tax reform