
Understanding Pass-Through Entity (PTE) Elections: A Game-Changer for Small Businesses
Pass-through entities (PTEs) can now bypass the $10,000 SALT deduction cap, deducting state income taxes at the entity level for federal tax savings.
Pass-through entities (PTEs) can now bypass the $10,000 SALT deduction cap, deducting state income taxes at the entity level for federal tax savings.
The IRS has launched the Direct File portal, promising simplicity but delivering a bureaucratic puzzle full of errors, confusion, and missing deductions.
Trump’s proposal to eliminate taxes on tips could boost service workers’ pay but raises concerns about tax revenue and Social Security funding.
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