Updates from the Firm
New Details on Pass-Through Entity Tax
As we have mentioned before, several states, including California, have recently enacted legislation that allows S-Corporations and partnerships to pay state income taxes at the business level via their Pass-Through Entity (PTE) tax return.
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 Pass-Through Entity Tax
Several states have recently enacted legislation that allows S-Corporations and partnerships to pay state income taxes at the business level via their business tax returns.
Evolving Tax Law Changes
Taxpayers are breathing a sigh of relief as the proposed 2021 tax changes appear to be less onerous than once feared. Provisions that were causing panic in the streets last summer have been either eliminated or trimmed back substantially.