Tax breaks

President Trump just signed and enacted a two-year budget bill that extends government funding through March 23 and also retroactively extends numerous tax breaks that had previously expired.

The bipartisan budget deal signed into law Friday by President Trump contains 36 tax extenders that had expired at the end of 2016 and makes them retroactive to 2017.

Tucked inside the bipartisan budget deal are a slew of tax breaks for NASCAR, Hollywood, racehorses and rum. And beer, too.

Businesses—especially smaller firms—may scale back on treating clients to major league baseball games, golf outings and the like after Congress and President Donald Trump ended a tax break for such entertainment.

A split inside the White House helped preserve a loophole that benefits investment fund managers in the tax bill that’s headed for President Donald Trump’s desk—despite Trump’s campaign promise to abolish it.

The Republican tax bill that’s on the brink of passage would vault America’s corporate tax rate into a much more competitive position globally and deliver temporary tax cuts to a broad range of people.

A provision to treat graduate school tuition waivers as taxable income won’t be in the final House-Senate tax package, according to Republican Senator Steve Daines of Montana and one other person briefed on a tentative deal reached Wednesday.

Traditional cost accounting for mixed-use residential projects often does not properly allocate all construction costs to each section of the property.

Doing away with advance refundings would eliminate a crucial tool that’s saved governments tens of billions since interest rates tumbled after last decade’s recession.

A new revenue procedure provides a safe harbor allowing taxpayers to deduct costs for fixing deteriorating foundations.