Drake Software blog for tax pros, covering tax, IRS news, and more

Bob Nolan, CPA EA and Olena Romanchuk, CPA on QBI - EP18

Partnerships and S Corporations Could Qualify for New Deduction

The Taxing Subjects Podcast sat down with two tax analysts from Drake Software to discuss the new Section 199A qualified business income (QBI) deduction that will affect some pass-through entities this filing season. Lead Tax Analyst Bob Nolan, CPA EA and Tax Analyst Olena Romanchuk CPA briefly outline what QBI is, explain why it could be more confusing than the new C corporation tax rate, and highlight little-discussed aspects of the new business deduction.

Ryan Norton

Whether designing superheroes, penciling caricatures, or just doodling, I always knew I was going to earn some sort of art degree while in college. That was my goal before I decided to trade Edgar Degas for Edgar Allan Poe during a Freshman English class. The BA in English soon morphed into a double-major in English and Philosophy, eventually becoming an MA in English. It only makes sense that I learned of a writing opportunity for a local marketing firm while teaching a first-year college English course. Before I knew it, I was writing and editing tax-related articles for Taxing Subjects, and this has been my home since 2014.