Tax deductions

With markets down so far this year and persistent inflation back, certain tax-saving moves can be particularly useful.

Taxpayers can no longer get away with 'substantial compliance' — they need to have their 'contemporaneous written acknowledgements' in order.

With the end of the year just around the corner, now is a great time to discuss tax planning with your clients.

Sam Bankman-Fried's failed FTX empire filed for bankruptcy on Nov. 11, potentially creating more than a million creditors and convulsing crypto.

When market investors suffer losses — or get taken for a ride — they're often eligible for a tax write-off to soften the blow. Users of the bankrupt crypto exchange FTX won't be so lucky.

The flow of money from private foundations to donor-advised funds has jumped substantially in recent years, highlighting the increasing use of a controversial loophole in charitable law, a new audit shows.

A lucrative deduction for luxury vehicles used at least half the time for business will start tapering come 2023.

Eric Adams released his 2021 tax returns on Friday, six months after he pledged to provide the public with the information.

The government is requesting responses on implementing the Inflation Reduction Act's climate proposals by Nov. 4 or sooner.

Private foundations are using donor-advised funds to sidestep federal laws designed to make sure the wealthy donate money to the needy in a timely fashion, not defer the gifts for generations.

Not keeping abreast of the green provisions of the Inflation Reduction Act could lead to trouble.

A look inside some of the green energy and energy-efficiency provisions of the new legislation, and what they'll mean going forward.

Concerns have mounted over the last few days about the tax ramifications of President Biden's forgiveness of student loan debt.

The California Small Business Relief Act established the tax credit, largely in reaction to the $10,000 limit on the state and local tax deduction under the Tax Cuts and Jobs Act.

The country's progressive personal income tax schedule is undermined by deductions that largely benefit high-income earners.

The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.

Cost segregation studies and other methods can help businesses minimize their tax liabilities — and maximize their cash for potential economic difficulties ahead.

With the House expected to take up the bill soon, here are its important details.

House Democrats who had threatened to block President Biden's tax and climate plan unless it also expanded the deduction for state and local taxes are signaling they'll back the legislation.

Despite what the wealth management industry suggests, some investors benefit more from the popular strategy than others.