Pass-Through Entity Tax Worksheet
Here is an example of a Pass-Through Entity Tax Worksheet for reference, with footnotes for specific line items, to show how these new regulations might effect you.
Update on Taxes/Due Dates
With so many recent and coming changes in the world of taxes, we thought it would be useful to highlight some critical issues for you.
The Biden Tax Plan
For those with taxable incomes above $400,000, expect higher ordinary income tax rates, additional payroll taxes, capped itemized deductions, and a phase out of Qualified Business Income deduction.