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Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

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Many states across the nation have enacted electable PTETs in an effort to provide businesses a workaround to the federal state and local tax (“SALT”) deduction limitation that the Tax Cuts and Jobs Act (“TCJA”) put in place. PTET Income Tax Addback. State and Local Tax Services. Contact Us.

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2022 Year-End Tax Planning Checklist

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Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). million in 2023).