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

3/1/2019

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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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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