What Congresses gives with one hand, it often takes away with the other and that is the case with the “Big, Beautiful Bill” when it comes to advisors who use a pass-through entity model. On the plus ...

After weeks of deliberation, revisions, and intense advocacy, the Senate and House have passed the final version of the One Big Beautiful Bill Act (OBBBA, H.R. 1), sending it to President Trump for ...

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 ...

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, ...

"Eliminating the SALT deduction for professional service pass-through businesses would also result in a major tax increase on many of those small businesses," said William R. Bay President, American ...

A House GOP bill, cleared May 22 by a 215–214 vote, would eliminate the pass-through entity tax deduction, a move that many physician groups warn would raise taxes on private medical practices, more ...

The massive new tax law temporarily boosts the maximum amount you can claim under the state and local taxes (SALT) deduction to $40,000, from $10,000, starting in 2025. (For those who are married ...

The latest SALT deduction change could mean thousands in tax savings for small businesses. But it’s won’t be a permanent staple. President Trump’s new tax law means a fourfold increase to a tax perk ...