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Re:Thousands of small businesses are struggling because of ... by nerdponx on Saturday January 20, 2024 @08:18AM (#39067304)
I assume you meant 80k instead of 90k?
Re:Thousands of small businesses are struggling because of ... by moron4hire on Saturday January 20, 2024 @08:49AM (#39067527)
The code defines that you start with the midpoint of the taxable year, so even though it covers a five year period, it will also cover 6 tax years. Because of that, the first tax year (which was 2022), only 10% can be deducted. Tax years 2 through 5 is 20%. You can deduct the last 10% in the 6th tax year.