Expert insights on estate planning, asset protection, tax law, tax preparation, tax planning, bookkeeping, accounting practices, wealth management, and legal matters for businesses and individuals.
Expert insights on estate planning, asset protection, tax law, tax preparation, tax planning, bookkeeping, accounting practices, wealth management, and legal matters for businesses and individuals.
Showing 2 of 53 articles tagged with pass-through-entity
IRS lien filings jumped 36% since 2022. Here's when a Las Vegas business owner needs a business tax attorney, not just a CPA.
The One Big Beautiful Bill Act, signed into law in 2025, raised the federal SALT deduction cap from $10,000 to $40,400 for 2026. That sounds like great news for S-corp owners and LLC members in high-tax states. And for many taxpayers, it is. But here's the catch: if you own a pass-through business in California, New York, or New Jersey and your state tax bill already exceeds $40,400, the new cap still leaves tens of thousands of dollars in deductions on the table. A California S-corp owner earning $500,000 in pass-through income pays roughly $46,500 in state income tax. The SALT cap covers $40,400 of that. The remaining $6,100 or more disappears under the new law. And for anyone with income above $500,000, the SALT cap phases out entirely, dropping back toward $10,000 once your MAGI hits $600,000. That's where the pass-through entity (PTE) election still wins in 2026. This guide explains exactly who benefits, how to calculate the advantage, and what you need to do before the deadlines close.
