Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Republicans Weigh Abandoning Tax Cut 2.0 After SALT Backlash
By Laura Davison and Kaustuv BasuParty leaders fear the effort to make cuts permanent could antagonize voters in some hotly contested districts.
July 18, 2018
4 States Sue Feds Over Caps on State and Local Tax DeductionsThe lawsuit by New York, New Jersey, Connecticut and Maryland argues that the deduction is essential to prevent federal tax powers from interfering with constitutionally guaranteed state rights.
June 20, 2018
Charities to Lose Billions in Donations Due to New Tax Law: AEIBut there are ways to offset the loss, the AEI report notes.
May 25, 2018
Debt Will Continue to Rise Under Trump Budget: CBOThe Trump plan would extend expiring tax provisions and alter the federal student loan program.
May 18, 2018
How Tax Cut Will Affect US Housing Market: ZillowTaxpayers are expected to pump $13 billion in tax savings into the housing market this year, Zillow reports.
April 20, 2018
State Tax Deduction Workarounds Likely to Hit SnagsStates' plans to offset new limits on SALT deductions raise issues for the IRS and local governments.
April 17, 2018
Republicans Struggle to Make Tax Cuts a Winning Election IssueA Democratic strategist says typical middle class voters may prefer protecting Medicare to keeping a little extra cash.
April 13, 2018
4 Key Tax Categories for Early Planning for 2018 Filing SeasonAdvise clients to start the conversation with their tax professional not too long after they've filed their 2017 taxes.