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Qualified Business Income Deduction: Understanding the Specified Service Trade or Business Rules

Qualified Business Income Deduction: Understanding the Specified Service Trade or Business Rules

On December 22, 2017, the Tax Cuts and Jobs Act was signed into law and Internal Revenue Code Section 199A “Qualified Business Income” was created. In its simplest terms, Section 199A allows owners of sole proprietorships, S-corporations, or partnerships to take a...

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