Ladies and gentlemen, how are you all doing? Mike the CPA here, and in today's video, we're going to be covering the most complex new tax deductions for business owners. That is the QBI deduction or the Qualified Business Income deduction, also known as the $1.99 deduction. Now, learning all this stuff throughout the course of this year in 2018 was borderline torture, but now I get the privilege of being able to torture all of you out there in the land of the internet with all this new juicy tax knowledge. Applause! This is going to be a two-part series, guys. So, in this first part, we're going to cover this in great detail, all the theory, the rules, what this deduction is all about. And then, in another separate video, I'm going to have an Excel document with five full-on step-by-step calculation examples that literally took me hours to put together. I'm going to be showing them to you guys in the next videos of this series. I'm going to have a link to that video down in the comment section down below and also in the description section of this video. So, make sure to be looking for it. And without further ado, there's a lot to cover here, so let's go ahead and dive right into it. Do you remember when you were back in math class and you had to learn an entire new section or an entire new chapter on math that was completely different than the previous chapter? Do you remember how hard that was? Well, that is kind of like what this deduction is. It's a whole brand new frontier in taxes, and it's really different than any other area of tax. So, you really have to think of it in that way....
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Video instructions and help with filling out and completing What Form 8865 Deductions
