Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Tax Bill With 100% Bonus Depreciation Hits Setback
By Melanie WaddellSenators' attempt to amend the measure to a must-pass aviation bill were scuttled.
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.
March 04, 2024
Watch Out for These Potential Tax Changes in 2024Changes could affect such areas as first-year depreciation and interest deductions, plus the child tax credit.
February 15, 2024
SALT Deduction Bill Fails Test Vote in HouseRep. Lawler, R-N.Y., said that, while disappointed, he'd keep up the fight for his bill.