Business Tax Planning: Preparing for Tax Reporting Year 2024 and Beyond
For business owners, tax planning is more critical than ever. With the phase-out of certain tax benefits and possible changes to the Tax Cuts and Jobs Act (TCJA), understanding your tax obligations and opportunities can help you maximize savings. Qualified Business Income (QBI) Deduction The QBI deduction (Section 199A) allows pass-through businesses (S-Corps, partnerships, sole…