The Paycheck Protection Program (PPP) is a federally guaranteed Small Business Administration loan program that was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, which became law on March 27, 2020. As of this writing, lawmakers are considering the … [Read more...]
Trade guaranteed payments for net profits to gain from QBI deduction
By Abhi Parikh, Sobul, Primes & Schenkel, Los Angeles The law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, added Sec. 199A, which allows a qualified business income (QBI) deduction that can provide valuable tax savings to individual taxpayers who receive income from passthrough … [Read more...]
