So in this episode, we break down what that specific deduction is and how it may impact you. As we always mention: if you have the chance to earn 1099 income, do it. This is yet another reason supporting our stance.
Topics Discussed:
· An overview of the QBI deduction
· An important deduction to make on your taxes.
· How this deduction will impact your finances.
· Who is qualified for this deduction and what it excludes.
· How employee payment and business property value are included.
· Who this will help and who it might not help.
· Whether it can be harmful to earn more at certain points.
Resources Mentioned:
Sen. Ron Wyden's - Small Business Tax Fairness Act
Tags
planning, financial planning, ER doctor, doctors, finances, advice, taxes, deductions