Tax breaks

Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, teamed up with several of his fellow Democrats on new legislation and investigations of reported abuses of the opportunity zone tax break for real estate investors.

Treasury Secretary Steven Mnuchin said he had no knowledge that his long-time friend and billionaire Michael Milken would benefit from a tax break his agency approved last year for a property in Nevada.

The 2017 Republican tax overhaul in the U.S. could provide relief for billionaire art collectors stung by the expiration of another major tax break.

Now a few of them have latched on to a generous new federal benefit for investing in lower-income U.S. communities.

Tax preparers and their clients should be paying attention to these changes for next tax season.

Most CPAs are familiar with the tax benefit of using an IC-DISC, but many do not realize the additional benefit that can be generated by a different method of calculation.

The co-working giant is claiming tax breaks in Britain intended for small companies.

The state approved incentives for major films by two of Hollywood’s biggest studios.

The leaders of the Senate Finance Committee issued three summary reports from their internal task forces examining what to do about the perennial problem of temporary tax breaks that need to be extended every few years.

Real estate investors who want to maximize the return on investment will reap extra tax breaks this year, but still need to be cautious.

There are some powerful ways to help your clients defer gains and help communities.

Taxpayers can make a late election, or revoke an earlier election, for the tax break for property they have acquired for a business.

The rules set by the Economic Development Commission in St. Thomas allow some businesses to lower their exposure to taxes by up to 90 percent.

The Internal Revenue Service issued a ruling allowing a taxpayer to use a tax-advantaged flexible spending account to pay for the medical portion of an ancestry test.

Liquor stores can’t claim a hot new U.S. tax break designed to create jobs in poor communities. One of the biggest property developers for marijuana ventures says it can.

Investors are starting to pour money into the real estate projects after more than a year of indecision.

Taxpayers wishing to participate for any calendar 2018 capital gains must act quickly.

If liberal and conservative advocacy groups can agree on anything, it’s this: A suite of more than three dozen or so corporate tax breaks that have expired over the past two years should stay dead.

Sen. Ron Wyden, D-Ore., introduced the legislation in response to the recent college admissions scandal.

Democrats would need to sweep the 2020 election if they want to pull the trigger to end the carried interest option.