Close-Up on Pass-Through Entity Tax Laws

Timely Opportunities

Close-Up on Pass-Through Entity Tax Laws

Several states have adopted and implemented new pass-through entity taxes. These laws are intended to provide businesses with a workaround to the $10,000 cap on the federal deduction for state and local taxes, which is in effect through 2025. Here's an overview of how these taxes work and how to evaluate whether they're right for your business.

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Tax Credit Cuts Price of Home Energy Audits

Attention, homeowners: The Inflation Reduction Act expands the tax credit for qualified energy-efficient improvements to help subsidize home energy audits. In addition to receiving a tax break, an audit can help lower your utility bills for years to come. Here's how to claim the credit, along with other tax breaks for making green improvements to your primary residence.

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Planning Your Estate

For Non-U.S. Citizens, the Estate Planning Rules Are Different

Traditional estate planning strategies generally are based on the assumption that all family members involved are U.S. citizens. However, if a family member is a noncitizen, special rules apply that may require additional planning. This article examines the estate tax rules that are applicable for families that include non-U.S. citizens.

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Real Estate

Secure Passive Loss Tax Write-Offs

Investors in rental real estate may face the passive activity rules that don't allow them to use the losses to offset other highly taxed income, such as salary and dividends. But there are some exceptions to the rules, which are described in this article.

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Business Law

Tax-free Divisions of Controlled Corporations

If certain requirements are met, a corporation can spin-off the stock of a controlled subsidiary to its shareholders without any tax at the corporate or shareholder level. But the requirements are strict. Here are some considerations for businesses to avoid expensive tax consequences.

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