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Practical Tips To Maximize The Qualified Business Income Deduction
Michael Geller, CPA Tax Partner, Gursey Schneider In 2025, the One Big Beautiful Bill Act made the qualified business income deduction permanent, solidifying a significant tax savings opportunity. First introduced in 2017 as part of the Tax Cuts and Jobs Act, QBID allows taxpayers, other than corporations, an opportunity to take an additional deduction equal to 20% of qualified business income. A taxpayer with $1 million in qualified business income could thereby reduce their taxable income by as much as $200,000. Sole proprietorships, partners and S corporation shareholders are the taxpayers who may benefit the most from QBID. For deduction…
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Why Gursey?
Why Gursey Schneider? Because we don’t just develop accounting professionals – we invest in people. As Tax Partner Keith Dolabson describes, a career with our firm provides growth, mentorship, and lifelong learning opportunities.
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Tax Relief for Natural Disaster Victims
Our firm offers essential information on disaster relief and tax benefits for individuals and businesses affected by natural disasters. Find guidance on government measures, financial assistance, and recovery resources to help you navigate challenging times.
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