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Working / Accumulation Phase, Tax Planning

Am I Eligible For A Qualified Business Income (QBI) Deduction?

Updated 12/1/2024

The Qualified Business Income (QBI) deduction and related rules and guidance can be difficult to navigate. There are several factors and issues that eligible business owners must consider.

To help make the analysis easier, we have created the “Am I Eligible For A Qualified Business Income (QBI) Deduction?” flowchart. It addresses some of the most common issues that arise for a client trying to understand whether they are eligible for a QBI deduction, including:

  • Eligible business structures
  • Types of income eligible for the QBI deduction
  • Annual limits & phaseouts
  • Specified Services Trade or Business categories
  • Impact of owning multiple businesses
  • De minimis rules
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