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Management Company Series: Tax Planning to Reduce Taxable Income

Withum

This election helps partners, members, or shareholders deduct more state taxes beyond the $10,000 limitation on their federal returns. States offering this option include California, Connecticut, Illinois, New Jersey, and New York. New York State permits eligible passthrough entities to make an irrevocable election annually.

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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

If you’re searching for an “Enrolled Agent near me,” you’re likely looking for someone who can provide a wide range of tax services. Get help today by calling us at 1-877-78-TAXES [1-877-788-2937]. Get help today by calling us at 1-877-78-TAXES [1-877-788-2937].

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The impact of the SALT cap on state income taxation: What’s at stake

ThomsonReuters

However, the cap enacted in the Tax Cuts and Jobs Act (TCJA) of 2017 has significantly impacted taxpayers who itemize their deductions, particularly those living in high-tax states like California, New York, and New Jersey. Now, the cap restricts the total deduction to $10,000, irrespective of the actual taxes paid.

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AICPA News – July 2025

CPA Practice

Xuan Phuc Tran (California), a graduate of the University of California, Irvine with a Bachelor of Arts in Business Administration, is employed with PricewaterhouseCoopers in San Jose, CA. Trust, Estate, and Gift Tax TRP Provide for the ability to e-file the following: Form 706, U.S. Form 709, U.S.

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Growing pains at the highest-growth firms

Accounting Today

is no exception to this, according to senior partner Ed Davis, who named both people and resources as challenges for the San Jose, California-based firm. "We You know, Im just doing a tax return or Im just doing this. Its really coming around to our internal employees and saying, "Its not just [a tax return], you are worth this."

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Tax Fraud Blotter: Getting personal

Accounting Today

West Long Branch, New Jersey: Resident Matthew Tucci has pleaded guilty to tax evasion. For 2015 and 2016, he filed tax returns that stated he owed more than $2 million in taxes for both years but did not fully pay the taxes. On these returns, Edwards admitted that he owed more than $2.5 million in taxes.

Tax
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Tax Fraud Blotter: Negative waves

Accounting Today

Whitman also has not filed an individual income tax return since 1997 and has made no tax payments since 2000. In 2012, the IRS assessed nearly $800,000 in taxes against Whitman for 2002 through 2009 and began trying to collect. All rights reserved. Mellinger and the relative subsequently stole more than $2.1

Tax