How Business Owners Are Bypassing the $10,000 SALT Deduction Cap — Legally ✅ This is legit. This is Edward-Verified. We’re talking about one of the smartest state-level strategies available to business owners today: A workaround to the SALT (State and Local Tax) deduction limitation on your personal federal tax return — specifically on Schedule A, where you itemize deductions. Let’s break it down: 🚫 Under federal law, the maximum deduction you can take for state and local taxes (including income and property taxes) is capped at $10,000. That hits high-income earners hard — especially in states like: ➡️ California. ➡️ New York. ➡️ New Jersey. ➡️ Illinois. ➡️ Connecticut. So what did many of those states do? They got smart. They created a Pass-Through Entity Tax (PTET) election, which allows your LLC, S-Corp, or Partnership to pay your state income taxes on your behalf. 💡 Here’s the magic: ➡️ When your business pays those taxes, it gets to deduct...