SALT deduction cap temporarily raised from $10,000 to $40,000. PTETs allow businesses to bypass federal deduction limits. OBBBA permanently instates the 20% qualified business income deduction. Tax ...
Clients with certain pass-through entities need to know about a new bill that could affect their taxes. The Small Business Tax Fairness Act, recently introduced in the Senate by Sen. Ron Wyden (D-OR), ...
What Congresses gives with one hand, it often takes away with the other and that is the case with the “Big, Beautiful Bill” when it comes to advisors who use a pass-through entity model. On the plus ...
Business owners have a lot to unpack in the One Big Beautiful Bill Act (OBBBA). Here's how it incentivizes the C-corp structure, particularly in growth-focused businesses.
"Eliminating the SALT deduction for professional service pass-through businesses would also result in a major tax increase on many of those small businesses," said William R. Bay President, American ...
The 2017 Tax Cuts and Jobs Act (TCJA) introduced Section 199A. This provision, scheduled to expire next year, provides owners of “pass-through” businesses a 20 percent deduction for qualified business ...
President Trump’s massive tax-and-spending bill continues the administration’s assault on racial and economic justice by ...
WASHINGTON—Lobbyists and trade associations built a multiyear campaign to push Congress for permanent extension of a 20% deduction for millions of closely held businesses, and they built strong ...
The “One, Big, Beautiful Bill” includes tax provisions that could benefit small franchise businesses and their employees. Key changes include expanded bonus depreciation, adjusted business interest ...
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