In today's complex tax landscape, navigating the federal tax saving opportunities for pass-through entities presents a significant challenge for S corps, partnerships, and LLCs. The limitation on state and local tax (SALT) deductions has further complicated this scenario, making it difficult for many businesses to maximize their tax benefits. Jane Ryder, EA, CPA, addresses these issues in a comprehensive class focused on state pass-through entity tax (PTET) elections and the SALT workaround.
This online CPE webcast course offers an in-depth exploration of the fundamentals of State PTET Elections, who can leverage the PTET State SALT Workarounds, and the state treatment of PTET payments. You will learn about the timing for making PTET elections and payments, how individual partners or members can opt-out, and the allocation of PTET Payments. Jane Ryder's expert guidance will provide you with the knowledge to implement tax planning strategies for PTET Credits effectively, and understand the federal and state tax benefits these elections offer. This session is an invaluable resource for professionals seeking to optimize tax savings for pass-through entities under the current legislation.
Learning Objectives
Upon completion of this course, participants will be able to:
Fundamentals of State PTET Elections;
Who may or may not use the PTET State SALT Workarounds;
State treatment of PTET payments;
Timing of PTET elections and/or payments for valid PTET Elections;
Individual partners, shareholders, or LLC members opt out;
Form 1065, federal Schedule K-1: Federal deduction for pass-through K-1 income for PTET stat tax;
Allocating PTET Payments;
Tax Planning for PTET Credits; and
Federal & State Tax Benefits of PTET Elections.
Major Topics
Federal K-1
Tax Planning for PTET Credits
