As part of Ohio Senate bill 246, passed by the General Assembly and signed by Gov. Mike DeWine, certain Ohio businesses are now able to pay and deduct at the entity level income tax that was ...

The Tax Cuts and Jobs Act (TCJA) of 2017 provides a tax deduction to owners of a business that qualifies as a pass-through entity. The provision is scheduled to last until the end of 2025, but ...

Corporations have a unique place in our society. They hire people, produce goods that are needed or wanted by the general population, they pay taxes, and provide charitable benefits on many occasions.

When entrepreneurs are deciding on the type of business structure applicable for their business, one of the most important things to consider is taxes. Tax treatments differ according to the structure ...

SALT deduction cap temporarily raised from $10,000 to $40,000. PTETs allow businesses to bypass federal deduction limits. OBBBA permanently instates the 20% qualified business income deduction. Tax ...

The Connecticut Department of Revenue Services released guidance this week on the recently enacted Pass-Through Entity Tax Credit, which state lawmakers approved this spring as a way to get around ...

Prior to 2018, a taxpayer could generally deduct his state and local taxes for purposes of determining his federal taxable income. Beginning in 2018, the Tax Cuts and Jobs Act (P.L. 97-115) ...

QBI includes the income, minus wage income, deductions, applicable gains and losses, for every eligible pass-through business that a taxpayer operates in the United States or Puerto Rico. This income ...

If you’ve had your head buried in the sand, or just decided you were not going to follow all the potential federal tax law changes, you’ve chosen wisely. Between the Biden Green Book proposal, the ...

Forbes contributors publish independent expert analyses and insights. Amber Gray-Fenner covers individual and crypto taxation and IRS news. Feb 11, 2022, 12:50pm EST Apr 14, 2022, 02:06pm EDT This ...