The rules are complicated, but certain physicians may be able to take advantage of the QBI deduction
The Qualified Business Income (QBI) deduction was introduced in the Tax Cuts and Jobs Act to ensure the average business owner receives a similar tax benefit to larger corporate taxpayers. The QBI allows the owner of a business (eligible only to those taxpayers with ownership in flowthrough entities taxed as a sole proprietorship, partnership, LLC or S corporation) to receive a 20% tax deduction on qualified business income if they meet certain restrictions.
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