Tax Deductions
News updates about tax deductions advisors should consider for their clients.
June 18, 2024
IRS to Crack Down on Tax-Dodging Asset ShiftsThe agency will issue regs on a technique allowing wealthy individuals and partnerships to move assets to avoid taxes.
May 28, 2024
Ed Slott: Your Clients Have a Big 401(k) Rollover ProblemEmployees leaving companies need more help understanding their options and the tax consequences, Slott tells ThinkAdvisor.
May 10, 2024
Tax Bill With 100% Bonus Depreciation Hits SetbackSenators' attempt to amend the measure to a must-pass aviation bill were scuttled.
May 08, 2024
Tax Bill Vote Hinges on Must-Pass Aviation BillA scramble by lawmakers to add amendments is holding up the vote, Sen. John Barrasso says.
May 07, 2024
Tax Bill With 100% Bonus Depreciation Gets a Shot in SenateThe measure is being attached to a bill to reauthorize the FAA, Sen. Ron Wyden says.
April 29, 2024
Debate: Do Taxpayers Benefit From Changes to the Saver's Credit?Starting in 2027, the credit will be replaced by a 50% matching contribution to existing 401(k)s and IRAs.
April 23, 2024
10 States With the Most Income Tax WriteoffsTaxpayers with expenses like mortgage interest can often write off far more than the standard deduction.
March 22, 2024
3 Ways to Help Clients Minimize 2023 Tax Liability NowThe year has been over for months, but there are still ways to help.
March 06, 2024
Tax Court Rules on New Secure 2.0 Limits for IRA-Related PenaltiesNew time limits on penalties for excess IRA contributions and missed RMDs are not retroactive, the court ruled.