Six 2021 Tax Tips That Can Save You Money

Six 2021 Tax Tips That Can Save You Money

What a year!  Even though 2021 has been unusual, to say the least, one thing doesn’t change.  With the end of the calendar year, our thoughts (at least here in the accounting world) turn to taxes. We have held off on posting this while we await a sense of where tax...
California Pass-Through Entity (PTE) Tax

California Pass-Through Entity (PTE) Tax

On July 16, 2021, California Governor Gavin Newsom signed “Assembly Bill 150” into law to join a number of states that have an optional passthrough entity tax (“PTE Tax”) regime. The bill allows a qualified entity to make an annual PTE tax election for the taxable...
Pass-Through Entity (PTE) Tax

Pass-Through Entity (PTE) Tax

On April 19, 2021, New York Governor Andrew Cuomo signed the New York State 2021/2022 Budget Bill into law, which includes a provision for a highly anticipated new elective Pass-Through Entity (PTE) tax. In 2017 the TCJA enacted what is known as the “SALT CAP.” This...