Substantial federal tax saving opportunities are available for numerous states which have implemented pass-through entity tax credit legislation. S corps, partnerships, and LLCs filing as S corps or partnerships, are generally eligible to benefit from federal tax deductions related to individual state tax on pass-through income. This class from Jane Ryder, EA, CPA, will look at tax planning for passthrough entity state tax elections and the SALT workaround for the federal limitation. These passthrough entity tax credits offer substantial federal tax saving opportunities with 29 states having already implemented these salt workarounds.
Federal K-1. Tax Planning for PTET Credits.
CPAs and other tax professionals.
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. Federal and State Tax Benefits of PTET Elections.
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Jane Ryder, Western CPE
Jane Ryder, EA, CPA is the owner of Brass Tax Ryder Professional Group, Inc., a full service tax and accounting firm. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980.
Jane received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an Enrolled Agent.
Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment plans, audit appeals, offers in compromise, and other compliance related issues.
Non-Member Price $113.00
Member Price $98.00