# @edwardcollins_upleveled on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DJpU8egxHtK
- **Gondola URL:** https://gondola.cc/posts/35104115-edwardcollins-upleveled-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/5b3e39f676.jpg
- **Posted:** 2025-05-14T19:29:58.000+00:00
- **Account Owner:** Edward Collins | Money Lawyer & Wealth Strategist (@edwardcollins_upleveled) — https://gondola.cc/edwardcollins_upleveled

## Caption

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 them. 

➡️ That lowers the business’s taxable income. 

➡️ Which lowers what gets passed through to you — the owner. 

➡️ Which bypasses the $10,000 SALT cap on your personal return. 
 
But here’s the catch: 
 
This only works if: 

✔️ You’re a business owner. 

✔️ You operate a pass-through entity. 

✔️ Your state has adopted this election. 
 
If that’s you, this strategy could save you thousands. 
 
The tax code is just a rulebook. 

The key to winning? 

Know the rules. 

And build a strategy that plays to win. 
 
Want me to show you how to use strategies like this to protect, grow, and preserve your wealth? 
 
Drop GOB in the comments and I’ll send you the free training. 
 
Let’s play offense this tax season. 
 
 — 

Credit (TikTok): Andy Krafft – andykrafft.fp 

 SF0677

## Stats

- **Views:** 10
- **Likes:** 211
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- **Comments:** 37

## Credits

These are the roles credited on Gondola. Credits may be incomplete.
A brand, account owner, or featured person is not necessarily the creator.

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| Edward Collins | Money Lawyer & Wealth Strategist | @edwardcollins_upleveled | https://gondola.cc/edwardcollins_upleveled | Talent |
| Hector Garcia | @Hector_FilmSchool | https://gondola.cc/Hector_FilmSchool | Content Producer |

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