Tag: QBI

  • 20% Pass Through Deduction for Musicians

    20% Pass Through Deduction for Musicians

    You’ve probably heard about the new 20% tax deduction for “Pass Through” entities under theĀ  Tax Cuts and Jobs Act (TCJA), and have wondered if musicians qualify. For those who are self-employed (1099, not W-2) here are five frequently asked questions: 1. Do I have to form a corporation in order to qualify for this…