
House GOP backs 23% ‘pass-through’ tax break for businesses
Nitat Termmee | Moment | Getty Images How to tell if you have qualified business income The QBI deduction applies to so-called pass-through businesses, which report profits or losses on individual tax returns. This includes partnerships and S-corporations, along with some trusts and estates. Sole proprietors, such as freelance, contract and gig economy workers, also…