Limited liability companies (LLCs) are what’s called “pass-through entities.” This means that the business does not pay corporate income taxes. Instead, the individual owners or members of the LLC ...

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 ...

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 ...

Pass-through businesses would enjoy a higher qualified business income deduction under the bill, which just passed in the House. The bill that the House of Representatives passed early Thursday ...

The landmark 1986 tax reform legislation cut the top individual income tax rate in the U.S. to 28% from 50% and the top corporate rate to 34% from 46%. With that change, the tax treatment of standard ...

The American Institute of CPAs is asking accountants to reach out to their congressional representatives and protest the proposed elimination of the ability of pass-through entities such as accounting ...

Limited Liability Companies give business owners a unique blend of liability protection and some real tax flexibility. The main tax perk of an LLC is pass-through taxation, which lets profits flow ...

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, ...

LONG ISLAND, N.Y. — Starting a business can be both exciting and daunting, and while the potential upside can seem promising, the path for a startup may be packed with pitfalls, especially those that ...