A. The IRS has finally released an explanation of the tax rules for claiming the 20% deduction for qualified business income. These are the proposed regulations for the 199A deduction (named for a section of the tax code) that was included in the Tax Cuts and Jobs Act.
If you want to know more details, such as limits, what types of businesses qualify, and what situations to best take advantage of this deduction, please read this article at Financial-Planning.com