Checklist: Am I Eligible for the Qualified Small Business Deduction
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Checklist: Am I Eligible for the Qualified Small Business Deduction

|In Checklists
|By Peter Donisanu, ChFC®, AIF®

When it comes to tax deductions, understanding the Qualified Business Income (QBI) deduction can make a significant difference in your small business tax and financial planning. This guide helps you determine your eligibility for the QBI deduction, guiding you through a series of decisions based on your business type, income level, and specific business activities.

It covers scenarios for both Specified Service Trades or Businesses (SSTBs) and non-SSTBs, addressing complex situations like mixed business models and ownership structures.

By exploring this guide, you’ll gain insights into how your business classification and income affect your eligibility for this valuable deduction, enabling you to make more informed decisions for your business’s financial health.

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Peter Donisanu, ChFC®, AIF®

Peter Donisanu, ChFC®, AIF®, is Chief Wealth & Tax Strategist at Franklin Madison Private Wealth and previously served as a senior investment strategy analyst at Wells Fargo Investment Institute, where he contributed to portfolio guidance for institutional and private wealth clients. He works with high-net-worth retirees and pre-retirees on retirement planning, tax-aware wealth strategies, equity compensation, and sudden wealth preservation, helping clients approach major financial decisions with clarity, confidence, and peace of mind.

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