Knowledge
Latest in Knowledge
Understanding QBI Deduction: SSTB, W-2/UBIA, and Taxable Income Limits
Section 199A offers a potential 20% QBI deduction through 2025 but is limited by SSTB rules, W‑2/UBIA tests, and taxable…
QBI Deduction: W-2 Wages, UBIA, and Per-Business Limits
QBI offers up to a 20% deduction for pass-through income but is capped by the greater of 50% of W-2…
UBIA Defined: Unadjusted Basis After Acquisition for Qualified Property
UBIA is the original cost at placed-in-service and is not reduced by depreciation. Qualified property must be used during the…
W-2 Wages: Elective Deferrals, QBI UBIA, and Statutory Employees
IRS 2025 W-2 updates clarify W-2 wage composition, include elective deferrals in Box 1/12, and exclude properly marked Statutory Employee…
199A: Negative REIT/PTP Amount Yields Zero Deduction, Carryforward
OBBBA permanently preserves the 20% Section 199A deduction for qualified REIT dividends and qualified PTP income. Negative combined amounts yield…
SSTB Thresholds Under IRC 199A: 10% vs 5% Receipts
The 10% (≤ $25M) and 5% (> $25M) specified-service gross receipts thresholds remain effective for 2025; exceeding the applicable threshold…
Publicly Traded Partnerships: Qualified Income Rules and 2025 Updates
2025 rules expand PTP qualifying income to include select low-carbon sectors for post-2025 tax years and impose TD 10028 disclosure…
QBI Deduction 199A: Permanent, 23% Rate Beginning 2026
OBBBA (2025) permanently extends Section 199A, raising the QBI deduction from 20% to 23% for 2026 onward, adds a $400…