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 ...

As part of its fiscal 2026 budget legislation (H.B. 352), Maryland enacted a significant change to its elective pass-through entity tax (PTET) regime. Effective for tax years beginning after December ...

The ongoing negotiations for the Republican's 'big, beautiful bill' have reignited discussions around the State and Local Tax (SALT) deduction. Historically, this deduction allowed federal taxpayers ...

On May 22, the House of Representatives passed proposed tax legislation titled, “The One, Big, Beautiful Bill” (TOBBB), which will now be debated in the Senate. Among other proposals, if enacted into ...

The TCJA’s new cap on the value of state and local tax deductions at the federal level (the so-called SALT cap) was one of the most controversial and contested elements of the 2017 tax reforms.

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 ...