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The Senate takes a more balanced approach to SALT and PTET rules—avoiding punitive carveouts and restoring deductions for traders and service professionals. Senate Republicans released a draft tax reform bill on June 16 that sharply diverges from the House’s approach to the state and local tax (SALT) deduction and the pass-through entity tax (PTET). Unlike the House version, which aggressively targets specified service trades or businesses (SSTBs), the Senate draft restores PTET deductions for all pass-throughs—offering welcome relief to traders, CPAs, and other professionals. Senate Holds the Line on $10,000 SALT Cap The 2017 Tax Cuts and Jobs Act (TCJA),…
Yonkers. The very sound of the word provokes titters. True to its name, the community for many years served as a target of laughter and scorn. On top of a reputation for corruption, the burg was also scarred by redlining and persistent racial tensions. Today, the city of 211,000 is cultivating a new rep. With folks seeking a mix of suburban lifestyle and city living near the Hudson River waterfront at a price point within many renters’ budgets, the Empire State’s third-largest city has undergone the kind of metamorphosis that’s attracting newcomers from all over the New York City area.…
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