Tax breaks

The list of jobs that are eligible for tax exemptions on tips includes bartenders, food servers, entertainers, performers and digital content creators.

Selling the OBBBA to the American people may prove to be tougher than passing it, even for a president who built a career on savvy branding.

Many of the provisions of the OBBBA benefit businesses, but colleges and universities will take a hit, as will companies in renewable energy.

The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating taxable income.

Businesses and rich universities scored wins in the Senate version of Trump's tax bill, while low-income Americans and clean energy providers were hit hard.

Senate Majority Leader John Thune said Republicans in his chamber expect to deliver on President Donald Trump's campaign promises.

Democratic Rep. Gwen Moore introduced legislation to expand the Section 199A Qualified Business Income deduction for the smallest businesses.

To get the capital gains break, the Commerce secretary must invest the proceeds of the sales in Treasury bonds or diversified exchange-traded or mutual funds.

Under current laws, qualified investors living in the commonwealth are not required to pay local or federal taxes on capital gains, including crypto appreciation.

Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.

Not all job creation incentive programs are created equal. Here are examples of programs from states across the United States.

A bipartisan group has reintroduced legislation to allow immediate expensing of research and development costs, all the way back to 2022 when the tax break expired.

One of the biggest issuers in the municipal-bond market warns it may need to scale back its borrowing plans if federal lawmakers eliminate the tax-exemption.

President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including expanding the state and local tax deduction.

Trump told GOP lawmakers he wants to end the carried interest exemption used by private equity fund managers and venture capitalists around the country.

President Trump reiterated his pledge to eliminate taxes on income from tips during a rally in Las Vegas, where the hospitality and service industry is dominant.

A Missouri-based wealth manager is poised to join the small but growing list of firms who have flipped assets into exchange-traded funds to help investors slash their tax bills, prepping one of the largest launches of its kind.

As we enter the beginning of 2025, bonus depreciation continues to leverage down as more portions of the Tax Cuts and Jobs Act expire.

With changing tax regulations and incentives, staying informed about the latest updates is crucial for optimizing client outcomes.

What does the 2024 Trump tax plan mean for you and your clients this time around?