On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act,” which makes permanent the 20 percent qualified business income deduction for owners of businesses that are pass-through entities. According to the 2024 Agency Universe Study, 86 percent of independent insurance agencies are structured as pass-through entities. This tax deduction, which was adopted in 2017, was set to expire at the end of this year.
For more information, please read the press release below that was issued by the Big “I” following the Senate’s final passage of the bill but prior to final passage by the U.S. House of Representatives and signature...
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