Tax breaks

Tesla Inc.'s electric vehicles would be shut out from consumer rebates under a proposal by California Governor Gavin Newsom, pitting him against Elon Musk.

A Republican sweep in November's election threatens a niche tax break that helps American colleges upgrade dorms and academic buildings on campus cheaply.

House Speaker Mike Johnson said Donald Trump's plan to end income tax on tips would have to be paid for, injecting a note of caution into one of the president-elect's key campaign pledges.

The incoming GOP majorities in the House and Senate mean Trump can enact a tax bill without making concessions to Democrats.

The tax break offered to municipal bond investors is coming under threat as Republicans are closer to taking control of both the White House and Congress.

What looks like a domestic triumph is also a win for America's primary industrial and geopolitical rival.

Juan Dalmau has tapped into frustration with the island's two-party system by proposing broad tax and energy reforms.

Donald Trump touted his pledge to provide tax breaks for purchasing cars, highlighting that the benefit would only apply to vehicles made in the U.S.

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

Donald Trump vowed to boost the U.S. auto industry by making interest on car loans fully tax-deductible and renegotiating a trade deal with Mexico and Canada as he courts Michigan.

While the potential rewards are attractive, for many of the small to midsized players, there are a host of operational and tax-related implications that need to be addressed.

Between the coming sunset of the Tax Cuts and Jobs Act, the presidential election and a host of other factors, this is shaping up to be a tough year for advising clients.

The OZ program allows investors to defer capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.

Vice president Kamala Harris said she would seek to end taxes on tipped income for service industry workers — matching a proposal Donald Trump has also made.

Republicans in the Senate stopped a $78 billion package of tax cuts benefiting businesses and low-income families, two constituencies the party needs to win big in November.

Senate Majority Leader Chuck Schumer, D-New York, announced plans to bring up a vote on the Tax Relief for American Families and Workers Act later this week.

The muni tax-exemption — estimated to cost the U.S. government roughly $40 billion each year — has been mentioned as a target for elimination.

An unlikely pair of senators is teaming up to propose legislation to eliminate tax breaks for corporate M&A activity.

A pair of lawmakers proposed a bill to end the abuse of grantor-retained annuity trusts to avoid taxes.

The Creating Hospitality Economic Enhancement for Restaurants and Servers would provide a tax deduction for bars, restaurants and entertainment venues with draft beer systems.