Pay state tax at the entity level to bypass the $10K SALT cap — save 3–7% federal.
36+ states now allow S-corps and partnerships/LLCs taxed as partnerships to elect entity-level tax (PTET). The entity deducts the state tax as an ordinary business expense (fully federally deductible, no $10K SALT cap), then owners receive a credit on their state return. IRS blessed in Notice 2020-75. For a $500K profit S-corp in CA/NY/NJ, saves $10–20K/yr federal. Must elect annually by state-specific deadline (often 3/15). Not available in TX/FL/WA (no state income tax).
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Multiply the $10M §1202 exclusion across multiple trusts.
4% corporate tax + 0% capital gains for bona fide residents.
Stack the $500K primary-home exclusion on top of a 1031 deferral.
Convert Traditional to Roth during sabbaticals or business-loss years.
Capitalize property taxes and interest on undeveloped land.
Deduct now, control forever, employ heirs.
Ordinary loss (not capital loss) on failed small biz — up to $100K.
Buy leveraged real estate inside your IRA — tax-deferred or tax-free.