WEBINAR: Fundamentals of Pass Through Entity (PTET) - E3S5R-T-01052-26-O
1 Hour Tax (Federal); IRS:
December 22, 2017 the Tax Cuts & Jobs Act (TCJA) passed and imposed a $10,000 limitation on the deduction of state and local taxes (SALT) for tax years 2018 through 2025.
November 9, 2020 IRS issued Notice 2020-75, which announced rules regarding clarification that state and local income taxes imposed on and paid by Pass-Through Entities will be allowed as an ordinary and necessary deduction in computing its non-separately taxable income or loss for the taxable year of such payment. Hence, these payments will not be subject to the SALT limitations.
OBBBA raised the SALT limitation to $40,000. How did the OBBBA affect the PTET.
The course will present tax professionals with up-to-date valuable knowledge on this PTET and how these rules impact their clients who operate pass-through entities (PTE)
Learning Objectives:
- Extrapolate PTET savings
- Examine what is PTET
- Investigate Notice 2020-75
- Fundamentals of PTET
- Analyze rules regarding specified income tax payments (SITPS)
- Explore which entities can use this election
Registration Options
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Registration Options
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Credits | Price |
|---|---|---|
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Member
Registration Ends 7/22/26 at 10:00 AM EDT
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1.00 (Tax (Federal)) | $35.00 |
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Non-Member
Registration Ends 7/22/26 at 10:00 AM EDT
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1.00 (Tax (Federal)) | $65.00 |
Allan J. Reynolds, EA
A.J. is an enrolled agent (EA) with over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. specializes in IRS Audits, Appeals, Collections, Innocent Spouse, Independent Contractor vs. Employee Issues, and Civil Tax Fraud Representations. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives.
Based in Sioux City, Iowa, A.J. nevertheless brings his everyday “in the trenches” experience to seminars nationally and internationally to assist attendees with real issues affecting tax professionals. A.J. has spoken Basics + Beyond Income Tax Seminars and Webinars, NATP National Conference and Webinars, NAEA Webinars, NTI Resort Conferences, and Iowa State University Webinars and Annual Tax Seminars.
A.J. started his tax career with a national CPA firm in San Diego, CA after proudly serving for five years in the United States Navy onboard the Guided Missile Destroyer USS Callaghan. During his time on the destroyer, A.J. and crew members were awarded the Navy Expeditionary Medal for their work in the Straits of Hormuz off the coast of Iran.
Outside of his tax practice, he is a member of the Diocese of Sioux City Priests’ Pension & Welfare Board and the Investment Advisory Board for the Diocese. When not working, his time is spent in various activities, including traveling with his wife and their two children.
If you don't receive a confirmation e-mail after you complete your registration, be sure to check your spam/junk folders.
For More Information:
150 Corporate Center Drive Suite 205Camp Hill, Pennsylvania 17011
United States 800.270.3352