Owners of pass-through entities may be able to avoid the $10,000 limit on deducting state and local taxes on their federal income tax returns…if their locality has a Pass-Through Entity Tax (PTET). The Tax Advisor has the latest developments on PTETs. If you are in a location with a PTET, determine whether you need to take any action in order to make use of it for 2024. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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