FMN Taxes

FMN - 2022/June, Seg 1 - PTETs and SALT Highlights

The Tax Cuts and Jobs Act (TCJA), passed in 2017, didn't change what a taxpayer can deduct on a federal level, such as property taxes, real estate taxes, sales tax etc., but it put a cap on these deductions. So, instead of adding all those taxes together and being able to deduct all of them, you are limited to $10,000. This has a significant impact on states with high income and real estate taxes. Lynn Mucenski-Keck, national tax service group leader at Withum, gives us the highlights of the passthrough entity tax (PTET) and state and local tax (SALT).

Learning Objectives:

  • Apply a state passthrough entity tax (PTET) and determine the benefits taxpayers receive from it;
  • Identify how the PTET deduction is allocated to the various shareholders or members;
  • Recognize the background of Notice 2020-75 and what a specified income tax payment is; and
  • Determine when the tax benefit rule is applicable and how it works.

Prerequisites/Advanced Preparation:

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Speaker / Author:

Lynn is a National Leader of Federal Tax Policy at Withum and focus on domestic tax planning for businesses, pursuing optimization to maximize cash impact. She hold a Master's in Taxation from the University of Denver and a CPA license in New York. Recently her focus has been on technical updates surrounding major federal reform bills, including the Consolidated Appropriates Act, 2021, CARES Act, Family First Coronavirus Response Act, CARES Act and the Tax Cuts and Jobs Act of 2017.


Price (USD)

Standard: $69.90


Course Code : FMN1448-FM

Release Date : 06/10/2022
Expire Date : 01/14/2024
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

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