Tax Deductions
News updates about tax deductions advisors should consider for their clients.
SALT Cap Confounds House Democrats Crafting Taxes for Biden Plan
By Kaustuv BasuThe nonpartisan Joint Committee on Taxation has estimated that repealing the SALT cap would cut taxes for more than 13 million people.
August 17, 2021
RIAs Took $36M in Excess PPP Loans: StudyIn another study on PPP loan fraud, 45% of loans by fintech lenders were deemed questionable.
August 12, 2021
Could This Trust Replace the Stretch IRA? Jeffrey Levine Weighs 10 Pros, Cons of CRUTsCharitable remainder unitrusts can provide similar benefits for some investors, but there are many caveats, the CPA says.
July 13, 2021
2021 Advance Child Tax Credit Payments: Should Your Client Opt Out?For many Americans, the payments will provide a valuable cash infusion. For others, they could create a tax headache later.
July 02, 2021
In Tax-Loss Harvesting, Step Carefully Through the 'Wash Sale' MinefieldMutual funds and ETFs can cause even bigger headaches, Morningstar's Sheryl Rowling writes.
May 28, 2021
13 States Where Social Security Benefits Are TaxedHow, and whether, Social Security benefits are taxed varies widely by state, according to the Tax Foundation.
May 21, 2021
How Retirees Can Avoid Tax Traps in Social Security, Medicare, Capital GainsWell-meaning retirement income moves can often have surprising tax consequences.
April 28, 2021
Should Lawmakers Block Biden's Infrastructure Bill Over SALT Cap?Two professors debate whether the $10,000 cap on the deduction for state and local taxes should be repealed.