Speaker of the House Mike Johnson, R-La., speaks to reporters as he walks back to his office as the House of Representatives waits to vote on President Trump’s “big beautiful bill” reconciliation package on July 3, 2025. Bill Clark | CQ-Roll Call, Inc. | Getty Images A massive package of tax cuts championed by President…
Senate Majority Leader John Thune (R-SD), flanked by Sen. John Barrasso (R-Wyoming), Sen. Mike Crapo (R-Idaho) and Sen. Lindsey Graham (R-SC), speaks to reporters after the Senate passed President Trump’s reconciliation package on July 1, 2025. Bill Clark | Cq-roll Call, Inc. | Getty Images Tax cuts are the centerpiece of a massive legislative package…
Speaker of the House Mike Johnson, R-La., speaks to the media after the House narrowly passed a bill forwarding President Donald Trump’s agenda at the Capitol on May 22, 2025. Kevin Dietsch | Getty Images As Senate Republicans debate trillions of tax breaks advanced by the House, some business owners could be blocked from part…
Nitat Termmee | Moment | Getty Images How to tell if you have qualified business income The QBI deduction applies to so-called pass-through businesses, which report profits or losses on individual tax returns. This includes partnerships and S-corporations, along with some trusts and estates. Sole proprietors, such as freelance, contract and gig economy workers, also…
House Speaker Mike Johnson speaks to the media after the House narrowly passed a budget bill forwarding President Donald Trump’s agenda at the U.S. Capitol in Washington, May 22, 2025. Kevin Dietsch | Getty Images There’s a stark contrast between high-earners and low-income households in a sprawling legislative package House Republicans passed on Thursday. The…
The US Treasury building in Washington, DC, US, on Monday, Jan. 27, 2025. Stefani Reynolds | Bloomberg | Getty Images The U.S. Department of the Treasury on Sunday announced it won’t enforce the penalties or fines associated with the Biden-era “beneficial ownership information,” or BOI, reporting requirements for millions of domestic businesses. Enacted via the…
