PTE Tax Tactics: Maximizing Deductions for High-Earners

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CPA (US)

Accountant/Bookkeeper/Tax Professionals

Published : December, 2023

Free (Only Today)

0.2 Credit

Subject Area

Taxes

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Course Description
Course Qualification
Presenter
FAQ

Course Description

In this concise nano-learning course led by Nicholas Preusch, discover insights into the Pass-Through Entity Tax (PTE) and its impact on tax planning for business clients. With the Tax Cuts and Jobs Act (TCJA) reducing deductibles for state and local taxes in 2017, high-net-worth clients faced considerable limitations. To counter this, states introduced the PTE, allowing tax payments at the entity level. IRS Notice 2020-75 validated this approach, prompting widespread adoption by 36 states, significantly altering tax strategies.
Gain an understanding of the critical implications of PTE payments, notably their timing for tax deductions and their influence on reducing the tax burden for high-earning individuals. Delve into the complexities of this strategy and the potential financial benefits it can offer while highlighting its relevance for end-of-year planning.
Please note, that Nano-learning might not be recognized by all state boards. If uncertain about your state board's acceptance of Nano-learning, seeking clarification from them or visiting the NASBA registry is advisable.

Learning Objectives

To discuss the significance of Pass-Through Entity (PTE) payments in optimizing tax deductions and reducing tax liabilities for high-net-worth individuals.
To analyze the timing and impact of PTE payments on end-of-year tax planning strategies to ensure maximum deductions and compliance with IRS regulations.

Course Qualification

Webinar Qualifies For

0.2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
0.2 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals

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Additional details

Course Level :

Basic
Credits :

0.2
Instructional Method :

Nano Learning
Pre-requisites :

None
Advance Preparation :

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Nicholas Preusch

Certified Public Accountant (CPA), Nicholas Preusch

Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).

Faq

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