North Bay Business Journal

The Tax Cuts and Jobs Act, passed into law in December, included a tax-code revision known as the qualified-business-income deduction.

The deduction, available for the 2018 tax year and through 2025, can benefit many small businesses structured as sole proprietorships, partnerships, S-corporations and limited-liability companies, where business profits are passed through to owners and declared as income on tax returns.

In this article, tax partner, Joe Kitts shares insight on application of the new qualified-business-income deduction. To read the full article, click here.