Navigating the Pass-Through-Entity Tax as a Workaround to the State and Local Tax Deduction Limit by Maxwell Jewell, CPA, MST
Posted on December 16, 2024 by Maxwell Jewell
Since the enactment of the Tax Cuts and Jobs Act (TCJA) in 2017, several states have proposed optional pass-through entity taxes (PTETs) to help their residents escape the law’s $10,000 limit on deductions for state and local taxes (SALT) payments on their personal income tax returns. However, because the PTET requirements can vary widely from […]