Tax deductions

The Tax Court added its voice to the dilemma facing many taxpayers working remotely due to the pandemic.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is poised to fail.

Tax professionals share the strangest misconceptions their clients have about taxes.

The Internal Revenue Service issued guidance on how educators can deduct out-of-pocket expenses for personal protective equipment to safeguard teachers in the classroom during the pandemic.

The Consolidated Appropriations Act includes a surprising number of tax provisions, many of which had not been widely publicized until the final bill was up for a vote.

Our panel of experts have identified these 12 credits, deductions and more as worth particular attention this year.

Two New Jersey Democrats are leading an effort to expand a valuable tax break for state and local levies in the next virus-relief package, a long-shot effort as lawmakers continue to squabble over the size and scope of the next round of stimulus.

The Internal Revenue Service hasn’t been properly vetting millions of dollars in deductions that could be erroneous, according to the inspector general.

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.

BKD CPAs & Advisors premiered “The Missing Deduction,” a 30-minute video featuring plenty of esoteric tax jokes.

This notice and the expected regulations to follow could add to the movement to repeal or modify the cap.

The provision could amount to $120 billion in write-offs.

A critical PPP deduction, tax extenders, business meal deductions and more are among the critical points.

Taxpayers still have the option to calculate the actual costs of using their vehicle.

Small business owners who got Paycheck Protection Program loans could qualify for big write-offs from their rescue money, amounting to what Treasury Secretary Steven Mnuchin has called a tax-break “double dip.”

The Internal Revenue Service is beefing up its controls to safeguard against improper self-employed retirement deductions, according to a new report.

Here are some obvious and not-so-obvious year-end tax tips to consider as we prepare ourselves and our clients for the new year.

The twin dynamics of expiring relief and a transition to a new presidential administration are making the end of 2020 a turbo-charged version of the usual rush to lock in tax reductions.

The new rules clarify deduction issues impacted by the Tax Cuts and Jobs Act.