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 ...

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 ...

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 ...

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 ...

As the House Republicans pass President Donald Trump’s sweeping tax bill, businesses may face drastic changes if approved by the Senate. The House GOP’s ‘One Big Beautiful Bill Act’ would raise the ...

"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 ...

The American Institute of CPAs is asking leaders of the Senate Finance Committee and the House Ways and Means Committee to make changes to the wide-ranging tax and spending legislation that was passed ...

For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law. The new ...

President Trump’s new tax law means a fourfold increase to a tax perk that could benefit entrepreneurs operating in high-tax states. The tax law Republican lawmakers managed to pass last week raises ...