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The upcoming elections may significantly alter the tax landscape of U.S. businesses. The reason has to do with provisions of the Tax Cuts and Jobs Act (TCJA) that are set to expire on Dec. 31, 2025. One significant change is the scheduled expiration of the qualified business income (QBI) deduction. This write-off is for up to 20% of QBI from noncorporate entities. What will happen to your taxes depends on different possible outcomes: For example, all expiring TCJA provisions could expire. Or some provisions could expire and others could be extended or made permanent. New laws could also be enacted to provide different tax breaks and/or rates. We’ll keep you informed so stay tuned. https://bit.ly/3YSOMCI

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