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A New Deduction for Qualified Business Income

18/01/18 10:25 am | Comments (0) | Posted By:

The Tax Cut and Jobs Act - How does it affect non-corporate taxpayers with business income?

The Tax Cut and Jobs Act decreased the tax rate for corporations from graduated rates of up to 35% to a flat rate of 21% beginning after December 31, 2017. The Act also added a 20% deduction for non-corporate taxpayer with domestic qualified business inc...