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EPGD Law Blog

Tag: Corporate Deductions
tax law
Business Law
Eric Gros-Dubois

An Overview of Qualified Business Income (QBI) Deductions; Part One

A new and important provision in the Tax Cut and Jobs Act (TCJA), enacted in December of 2017, is Section 199A, which allows deductions for qualified business income (QBI). This post is part one of a three-part series and addresses what QBI is, who may claim QBI deductions, how they may claim such deductions, and how to calculate the deduction for taxpayers below the lower threshold.

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tax cut
Business Law
Eric Gros-Dubois

What are the Deductions for the new Tax Act?

The Tax Cuts and Jobs Act passed in 2017, and effective in 2018, provides businesses with a reduced tax rate, but also significantly alters the tax deductions businesses can claim. Some major categories of tax deductions that have been adjusted are meals, entertainment, and travel for either employees or clients

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