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 ...
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 ...
After weeks of deliberation, revisions, and intense advocacy, the Senate and House have passed the final version of the One Big Beautiful Bill Act (OBBBA, H.R. 1), sending it to President Trump for ...
If you are a business owner looking to sell, advance planning can be the key to help minimize your tax burden and maximize your profits. In particular, recently created state elections for ...
Some state CPA society leaders are continuing to speak out against the proposal to eliminate the state and local tax deduction for service-based passthrough entities, which they say would be ...
Financial advisors structured as pass-through entities—and the clients they serve—are keeping a trained eye on how lawmakers plan to handle the state and local tax (SALT) deduction workarounds for ...
On July 3, Gov. Mike DeWine signed into law Ohio’s 2024-2025 budget bill, House Bill 33, which included several taxpayer-friendly changes to a number of state taxes, including the Commercial Activity ...
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