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goodoldboys
3033 days 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?
1 comments
Judson
3033 days ago
For single filers, it's $157,500, with phase-outs $207,500.
For joint filers, it's $315,000, with phase-outs to $415,000.
link
goodoldboys
3033 days ago
thank you for the specific numbers, I feel like I should memorize them for every time this issue comes up...
link
For joint filers, it's $315,000, with phase-outs to $415,000.