Nonresidents – Du'JH & Associates, PA

Qualified Business Income Deduction for Rental Real Estate Owners-Safe harbor rule

Posted on December 21, 2019 (December 21, 2019) by AmAdmin

The 2017 Tax Cuts and Jobs Act (TCJA) created a new deduction known as the Qualified Business Income Deduction (QBID). It is also called the pass-through deduction or Section 199A deduction. The QBID allows small business owners to deduct up to 20% of qualified business income from federal income tax. Rental property owners will interested […]

IRA Contributions and Deduction

Posted on December 30, 2016 (December 30, 2016) by AmAdmin

An individual Retirement account (IRA) provides certain tax advantages. Anyone who wants to save for retirement can set one up. Traditional IRA contributions are tax deductible for the year when you make the contribution, and withdrawals in retirement are taxed at ordinary income rate. Roth IRAs provide no tax break for contributions, but earnings and […]

Client Login