My boyfriend and I are the two shareholders of our S-corp LLC. We do mobile detailing and boat cleaning services. We do not have employees. We actively participate in the business. In fact, we are the only two that actually perform the detailing work, so the both of us are very much an integral part of the business operations.
I'm trying to find out if "this activity" is a "qualified trade or business" under Section 199A. There is a lot of confusion about what meets the criteria. I want to make sure I answer this correctly, especially if it will lower my tax bill.
Is there an income threshold that determines this for those that are on the fence? Any clarity would be greatly appreciated.
