Uncle Sam Keeps Moving the Goal Post

Explicit

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Just when you think you have things all figured out, the rules change, and no one told you about it. This can happen to business owners on a daily basis. You feel like you are about to do something great in your business and then it misses the mark again. It feels like they keep moving the goal post so to say. One of our latest frustrations comes from the Internal Revenue Service (IRS) on what qualifies as qualified business income (QBI). QBI is the net amount of qualified items of income, gain, deduction, and loss from any qualified trade or business, including income from partnerships, S corporations, sole proprietorships, and certain trusts.

So, what has us all in an uproar? M&T Parker LLC is a partnership with 0 W-2 wage paid employees. That means we cann ...