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As a partner in an LLC , Max is exploring tax - saving strategies and learns about the 2 0 % deduction on Qualified Business
As a partner in an LLC Max is exploring taxsaving strategies and learns about the deduction on Qualified Business Income QBI under the Tax Cuts and Jobs Act. What should Max consider in order to maximize this deduction for his passthrough business before its expiration in
a Assume all passthrough businesses automatically qualify for the full deduction without any restrictions or eligibility criteria
b Investigate if his LLC and specific business activities qualify for the deduction, understanding that eligibility and the deduction amount can be influenced by factors like income level and industry.
c Focus solely on the expiration date, disregarding the deductions eligibility criteria and potential limitations based on his income and business type
d Rely on the deduction to eliminate any need for additional tax planning or savings strategies, given its temporary nature
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