What are Pass-Through Entity Taxes?

Business owners! The PTET could be significant as you start working on your 2023 taxes!  Under Virginia law, pass-through entities (PTEs) can choose to pay Virginia income tax at the entity level, and eligible owners of the PTE can receive corresponding credits. The general effect of this is to transfer the Virginia income tax liability on the PTE's income from the PTE's eligible owners to the PTE itself.Today, Retha Valderas stops by to chat with host Jess Ellett about what the PTET really means and what the significance is for business owners. Valderas Financial prides themselves in their expertise and superior client service. They form a relationship with their clients where they work to make sure every aspect of their finances are in order through cool, calm, accounting.Stay informed... with Retha! Learn more about Valderas Financial Services:www.vfscpa.comFollow Valderas Financial Services on Linkedin:www.linkedin.com/in/margaretha-retha-valderas-cpa-3bb47940Thanks for listening to River City Podcast!  A River City Consulting Production. To learn more about how your organization can be interviewed on the show, please visit River City Podcast online!