For individual owners of pass-through entities, such as partnerships, limited liability companies (“LLCs”), business trusts, and S Corporations, Virginia’s elective Pass-through Entity Tax (“PTET”) offers potential federal...more
Elective PTE Income Taxes Payable to Virginia -
Beginning July 1, 2022, Virginia’s new law establishing a workaround for the federal income tax limitation on deductions for state and local taxes (SALT) became effective....more
The Internal Revenue Code (“IRC”) Section 199A Qualified Business Income Deduction (“QBI Deduction”) generally provides a 20% deduction (or reduction) of a taxpayer’s qualified net business income received from a pass-through...more
2/7/2019
/ Business Taxes ,
Internal Revenue Code (IRC) ,
Pass-Through Entities ,
Qualified Business Income ,
Rental Income ,
Rental Property ,
Revenue Procedures ,
Safe Harbors ,
Section 199A ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform ,
Tax Returns