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Our guest today is Evgeni Ivanov, the Senior Manager for Wipfli LLP, where he specializes in physicians’ practices and anything these physicians may need, including accounting, bookkeeping, and tax returns. In this episode, we discuss the State and Local Tax (SALT) Cap, specifically the limitations on deductions for SALT payments and how this applies to high-earning physicians.
Listen in as Evgeni explains what a SALT cap is and how this has changed over the past several years. You will learn the planning opportunities for people with self-employment incomes, the importance of checking with a professional to see if this applies to you, and who this strategy will not work for.
What You’ll Learn In Today’s Episode:
- Who should be thinking about SALT deductions.
- How this affects business owners.
- How this shift will impact high earners.
- What a SALT cap is.
- The importance of consulting with a professional.
Ideas Worth Sharing:
Resources In Today’s Episode:
- Evgeni Ivanov: LinkedIn
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