High-income business owners—aided by states and the IRS—are finding a path around the $10,000 cap on the state and local deduction
on the state and local tax deduction would benefit the rich too much, but some of America’s top earners—including private-equity managers and law firm partners—are already legally circumventing the cap on much of
their income.for owners of closely held businesses that is proliferating around the country. So far, about 20 states have enacted versions of it, including New York, California, Connecticut, New Jersey and Illinois.
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Fund administration investors dodge tax crackdownInvestors in Dutch fund services company Intertrust have found a safe haven. The Amsterdam-based company said on Monday that its board had agreed to a takeover bid by private U.S. rival CSC for around 1.8 billion euros. The offer of 20 euros per share in cash is 59% above Intertrust’s share price before takeover interest emerged last month. It’s also 11% higher than the 18 euros per share proposed by private equity group CVC, which owns Dutch rival TMF but withdrew last week.
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Ohio wants to give state college grads 3-year tax break to remain in state for workOhio Representative Jon Cross proposed giving graduates who take a full-time job in the state a three-year tax break to incentivize them to stay in the state.
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Opinion | What's at stake in the case against Ethan Crumbley's parentsCharging the parents of the Michigan school shooting suspect with manslaughter is not unprecedented, but it may signal a new trend, Danny Cevallos writes for NBCNewsTHINK.
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SEC Is Investigating Trump’s Social Media VentureAuthorities are probing Donald Trump’s new social media venture, which has ambitions to launch a Twitter knockoff and other media businesses, according to an SEC filing released Monday.
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