The State and Local Tax (SALT for short) deduction cap has frustrated business owners and high-income earners since 2018. But there is a legal and IRS-respected strategy that can help reclaim lost deductions: the Pass-Through Entity (PTE) tax election.

Originally introduced by states in response to the federal Tax Cuts and Jobs Act of 2017, the PTE election allows qualified businesses to shift state income tax from the individual level to the entity level—restoring deductibility and reducing federal taxable income.

When your advisors don’t talk to each other, you pay the price—literally.

We had a client come to us needing a document for a transaction. They were financing the purchase of some equipment for another company.

The default solution would have been a promissory note—quick, simple, and what most professionals would draft without a second thought.

Today, we’re diving into how  we generally avoid tax surprises. We’re talking about a SIMPLE, but SMART strategy that can save you money and help you avoid penalties and surprises.

Taking shares for your fee is an excellent way to create upside for your consulting work, but make sure you are being smart about the transaction.

The Earned Income Tax Credit (EITC) is a refundable tax credit aimed at supporting workers with children. It reduces the amount of tax owed, and may even result in a refund.

Recently it feels like changes to legislation are coming out of Washington every day, and here at Visibility CFO & Tax Advisors we have been eagerly watching for what impact new legislation will have on federal taxes.