The Qualified Business Income (QBI) Tax Deduction (U.S. Tax)

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Section 199A of the tax code says taxpayers can deduct up to 20% of their qualified business income. This applies to income received from a sole proprietorship, partnership, LLC, or S corporation (but not a C corporation).

Qualified business income (QBI) is your share of the profit from the business, excluding things like capital gains, dividends, wages you earned from the business, etc.

20% of QBI is deductible, so if your business income is $100,000 you would receive a QBI deduction of $20,000. This deduction is available whether or not you itemize deductions.—
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what took my CPA instructor a 2 hour video to explain, Edspira nailed it in 32 seconds.

johnobtech
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Oh my goodness!!! I never learned so much about QBI before... this 32 sec video just beat every other videoes in here... thank you so much

meenachhantyal
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Thank you for taking the time to make these videos. They are so helpful!!!

Jrios
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You are the man! Thanks for all your videos, they're really helpful!!

jrf
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Wow Edspira you have graced us with your face! We love! 👏🏼👏🏼👏🏼

hebart
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32 seconds and a white board - boom! Subbed!
Thank you 🙏🏼

KimSooAcu
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thank god i saw you.... now i can happily pass all my exams

mohammeda
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Sweet and simple, thank you!

Earned the sub

janvecerka
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The explanation is incomplete: how about all the IRS exceptions to the QBI?
It's not 20% write off across the board. The nature of the business may not qualify for it.

donsergio
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Hi, may I ask if the money($300) I got from youtube channel is Qualified Business Income?

Friendlyutube
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What if my LLC loss is $6, 000, but I have $52, 000 in W2 wages. LLC is pass through entity. Do I qualify for QBI dedution including my W2 wage?? Cannot find an answer for this. Please help.

neilsmith
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Can an American studying in Japan and making money off YouTube qualify?

eri-