On 10/22/24, the IRS announced that is has officially commenced operations of the newly established pass-through field operations unit within its Large Business and International (LB&I) division, ...

Editor’s Note: The CARES Act modified the rules for calculating the business interest deduction in 2019 and 2020. For 2020, the 30 percent limit was increased to 50 percent (the 30 percent limit ...

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 ...

Financial advisors and their business clients can breathe a sigh of relief after new taxes on pass-through entities were rejected in the Senate’s version of the “One Big Beautiful Bill,” which passed ...

Editor’s Note: The CARES Act modified the rules for calculating the business interest deduction in 2019 and 2020. For 2020, the 30 percent limit increased to 50 percent (the 30 percent limit continued ...

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, ...

Recently, The Baltimore Sun published a commentary from two Maryland tax practitioners critical of the Office of the Comptroller’s handling of Maryland Electing Pass-Through Entity (PTE) tax filings ( ...

California’s elective Pass-Through Entity Tax was designed to provide relief to business owners. SOUTH SAN FRANCISCO, CA, UNITED STATES, October 15, 2025 ...

An S Corporation is an IRS tax classification that allows an eligible entity to be a pass-through entity for tax purposes. This means that the business owners will report their share of business ...