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4:43
QBI Deduction Explained in Less than 5 Minutes
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Fred Passelli, CPA
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Think you’re paying tax on all your business income? With the QBI deduction, you could exclude 20% of your profit from federal income tax. Here’s what you need to know: 💡 Earn $100K? You might only be taxed on $80K 💡 W-2 salary doesn’t qualify– but your pass-through income does 💡 The more salary you take, the smaller your deduction This is where strategy matters. Too much salary = more FICA less QBI Dial it in, and you keep more of what you earn. Want to watch the full breakdown of the new bi
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10 months ago
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Mark J. Kohler
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Stephen Mandracchia, CFP® EA
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Stephen Mandracchia, CFP® EA
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QBI deduction explained! Anthony the consultant should stick with S corp for pass-through benefits. C corp = double tax! #QBIDeduction #Taxes #SmallBusiness #SCorp #TaxTips
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