The PTE election can be a valuable tool in helping small businesses deduct more of their state income tax payments. Determining if the PTE election is viable for your small business depends on many factors that aren’t able to be covered here.
Archives for January 2023
Start Planning Now for Higher Tax Rates in 2026
The sunsetting of the Tax Cuts and Jobs Act (TCJA) is fast approaching, and with it comes the expiration of many of the provisions that have been in place since the act was passed in 2017. One of the most significant changes that will occur when the TCJA sunsets is an increase in tax rates […]
Identity Protection PINs (“IPPINs”)
Identity protection PINs, or IP PINs, are six-digit codes that the Internal Revenue Service (IRS) issues to taxpayers to help prevent the misuse of their personal information. If you’re a taxpayer, you should strongly consider getting an IP PIN to protect yourself from tax-related identity theft.