Deductions
“My surging business income is pushing me over the strict QBI deduction phaseout threshold, what specific strategies can lower my taxable income to preserve the deduction?”
For businesses near the QBI deduction phaseout area, the main considerations often include the type of entity, the mix of ordinary business income versus other income, and how year-end deductions are timed. In many cases, the analysis also turns on whether compensation, retirement contributions, equipment purchases, or other business expenses can reduce taxable income without creating other tradeoffs. Because the deduction can depend on both income level and the character of the business, the practical result often varies with entity structure, bookkeeping detail, and how income is recognized across the year. Working through the specifics with a CPA is the cleanest way to land on the right move.
In your 90-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I incurred massive personal credit card debt to fund my struggling business, is the crippling interest I pay on those cards tax deductible?”
“Can I deduct my new home office using the actual expense method without immediately triggering a red flag audit from the IRS?”
“I bought a heavy luxury SUV primarily for my real estate business, how does the Section 179 vehicle deduction actually work for passenger vehicles?”
“I use my personal cell phone extensively for my freelance work, what exact percentage of my monthly phone bill is safe to write off?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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