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26 U.S. Code § 199A - Qualified business income- Wages Defined

3/1/2019

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You will benefit from § 199A tax  and are eligible to take the deduction  from your business’s W-2 wages that were paid to you and your employees if any of the following applies:

  • Your taxable income is over $315,000 and less than $415,000; for MFJ
  • Your taxable income is over $157,500 and less than $207,500; for HOH/Single
  • Your taxable income is greater than $415,000 (MFJ) or $207,500 (Single or HOH); AND you have an in-favor business
Consequently, for taxable income above these thresholds your and you don't have any wages or property your § 199A  deduction is zero!

Wages are just one factor that will help you realize an § 199A deduction!  Give us a call we can help realize your full deduction on your tax return.  262-348-8297

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    Important Disclosures


    Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

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    To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
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    These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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    Author

    Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion.  Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

    Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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