The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of ...

High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...