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Webcast

Tax Planning for Pass-Through Entity State Tax Elections: Federal State and Local Tax Limit (SALT) Workaround

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CPE Credits

2 Credits: Taxes
Course Level
Basic
Format
Webcast

Course Description

In today’s complex tax landscape, navigating the federal tax saving opportunities for pass-through entities presents a significant challenge for S corps, partnerships, and LLCs. The limitation on state and local tax (SALT) deductions has further complicated this scenario, making it difficult for many businesses to maximize their tax benefits. Jane Ryder, EA, CPA, addresses these issues in a comprehensive class focused on state pass-through entity tax (PTET) elections and the SALT workaround.

This online CPE webcast course offers an in-depth exploration of the fundamentals of State PTET Elections, who can leverage the PTET State SALT Workarounds, and the state treatment of PTET payments. You will learn about the timing for making PTET elections and payments, how individual partners or members can opt-out, and the allocation of PTET Payments. Jane Ryder’s expert guidance will provide you with the knowledge to implement tax planning strategies for PTET Credits effectively, and understand the federal and state tax benefits these elections offer. This session is an invaluable resource for professionals seeking to optimize tax savings for pass-through entities under the current legislation.

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Learning Objectives

Upon completion of this course, participants will be able to:

  • 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; and
  • Federal & State Tax Benefits of PTET Elections.
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Course Specifics

Course ID
WC1823320961
Revision Date
January 9, 2023
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02602-24-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1877
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

Jane Ryder, EA, CPA

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 …

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