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Service businesses still get 20% deduction on business income up to a certain income threshold, which is pretty substantial (I think it's just under 400k). Have
by goodoldboys 9y ago
Service businesses still get 20% deduction on business income up to a certain income threshold, which is pretty substantial (I think it's just under 400k). Have you talked to your accountant?
- Judson 9y agoFor single filers, it's $157,500, with phase-outs $207,500. For joint filers, it's $315,000, with phase-outs to $415,000.
- goodoldboys 9y agothank you for the specific numbers, I feel like I should memorize them for every time this issue comes up...