🚨 Your Action is Needed by May 21 🚨 Last week, the House Ways and Means Committee released proposed tax legislation that could significantly raise taxes on millions of small and mid-sized businesses by eliminating the deductibility of Pass-through Entity Taxes (PTET). 🔍 What’s at stake? This proposal would unfairly target Specified Service Trades or Businesses (SSTBs) — such as accountants, lawyers, doctors, and dentists — by reinstating the $10,000 SALT cap for individuals, regardless of income or state. Meanwhile, corporations would still fully deduct state and local taxes. This change rolls back key progress made under the IRS-approved PTET workaround. 💡 Why it matters: + Raises taxes on service-based businesses + Discourages entrepreneurship and growth + Deepens inequality between corporations and pass-throughs + Hurts professionals who support businesses and communities — including CPAs 🗳️ What you can do: Contact your U.S. Senators and Representatives by May 21 and urge them to oppose this provision. Here's how to find your representative: congress.gov/members #TXCPA #TaxPolicy #PTET #SmallBusiness #CPAs #SALTcap #Advocacy #TaxReform #PassThroughEntities #TaxBill #SmallBusiness #SupportSmallBusiness #Congress #FederalLegislation #USLegislation (fb)

CPA Advocacy in Action! TXCPA leaders were proud to represent the profession in Washington, D.C., on May 12-14. With 16 members of our delegation meeting 29 Congressional offices — including both Texas Senators — we brought a strong, united voice to Capitol Hill on the issues that matter most to CPAs. Our advocacy focused on: 📌 Pass-through Entity Tax (PTET) 📌 Recognizing Accounting as a STEM profession 📌 Expanded use of 529 plans for credentialing 📌 Principles of good tax policy The timing couldn’t have been better as lawmakers reviewed key tax legislation. We found receptive audiences and strong bipartisan interest in supporting the profession. 🙌 Thank you to our dedicated members and guests who joined us in D.C. — your voice matters, and together, we’re making a difference! 🔗 Learn more about our efforts and ongoing advocacy: https://www.tx.cpa/advocacy/texas-legislative-session/2025/txcpa-leaders-advocate-in-dc-for-issues-critical-to-the-cpa-profession #TXCPA #CPAAdvocacy #AccountingMatters #STEM #TaxPolicy #CPAsInDC #AccountingProfession #FutureCPAs #529Plans #TXCPAAdvocates #AICPA (fb)