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, ...

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 ...

Clients involved in pass-through entities may soon see more of the IRS. The agency plans to establish a special area to focus on large or complex pass-through entities, promising to hire more than ...

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 ...

If you’re exploring different ways to structure your business, you may have come across something called a flow-through or pass-through entity. A flow-through entity is a business in which income is ...

Pass-through business entities with research and development expenses would receive a tax credit under a bill being considered by state lawmakers. The legislature’s Commerce Committee will conduct a ...

With the fate of many expiring provisions of the Tax Cuts and Jobs Act hinging on this year's election, one particularly controversial deduction for certain business owners is in flux. Backers argue ...

Corporate tax without the corporation. An LLC allows a business to be taxed as a corporation without the hassles of a corporation’s business structure. LLCs are generally less expensive to operate, ...

Clients involved in pass-through entities, businesses that don’t pay corporate tax but pass on income to their owners’ personal income tax calculations, may soon be seeing more of the IRS. The agency ...