The Tax Cuts & Jobs Act offered businesses the most significant tax cuts in a generation. C corporations saw their maximum Federal tax rate cut almost in half from 39% to 21%. Partnerships, S corporations and sole proprietorships also received significant tax relief in the form of a 20% tax deduction for Qualified Business Income. When the law passed, many of us had one question – does the IRS consider rental real estate a business that qualifies for the QBI deduction?
Continue reading “QBI Deduction for Rental Real Estate – Opportunity Knocks, but Tread Carefully”
Daniel J. Domancich, CPA 