Rep. Gwen Moore, D-Wisconsin, a member of the tax-writing House Ways and Means Committee, introduced legislation Thursday to expand the Section 199A Qualified Business Income deduction to provide a ...

The Tax Court determined that W-2 wages that are not deductible under Sec. 280E in calculating taxable income are not included when calculating the Sec. 199A qualified business income (QBI) deduction.

Senate Republicans will soon debate trillions of tax breaks approved by House lawmakers, including a bigger deduction for small business owners, contractors, freelancers and gig economy workers.

High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...

On May 22, 2025, the U.S. House of Representatives approved H.R. 1, also known as the “One Big Beautiful Bill Act” (the House Bill). [1] The House Bill will next be considered by the U.S. Senate, and ...

Self-employed or freelance and owe taxes? Learn which IRS tax relief options may help, including payment plans, penalty relief and Offer in Compromise.