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 ...

"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 ...

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 ...

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 ...

any states, in order to collect revenue without having to pursue nonresidents for it, have begun requiring flow-through entities (for example, S corporations, partnerships and limited liability ...

The Senate made adjustments in the text of the massive One Big Beautiful Bill to preserve the state and local tax deduction for pass-through entities such as accounting firms and law firms, ...