20% QBI Deduction? Likely Not for Expats.
Section 199A of the Internal Revenue Code was created by the Tax Cuts and Jobs Act (TCJA) signed into law in 2017. A provision of the law provides for a 20% deduction for so-called “qualified business income” (“QBI”). If a taxpayer can utilize the new law, the taxpayer can save a bundle in taxes. However, an American …
