Tax deductions

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

The state and local tax issue has been one of the most contentious for the House GOP to resolve.

Lawmakers have separately discussed eliminating a tax deduction for pharmaceutical advertising.

Jason Smith said he will to strike a balance between those who want no limit on the state and local tax deduction and those who want no write-off at all.

A pair of bills would coordinate Pell Grants with the AOTC, and provide a tax deduction for overtime pay.

Key House Republicans discussed ways to direct an expanded state and local tax deduction to those making less than $400,000.

Republican lawmakers pushing for the expansion of the state and local tax deduction are slated to meet with House Speaker Mike Johnson about the $10,000 cap.

Congress will be drafting its multitrillion tax cut proposal in the coming weeks, almost certainly reflecting the priorities of a small minority of constituents.

Rep. Jeff Van Drew thinks House Republicans will end up approving a $30,000 cap on the state and local tax deduction.

Donor-advised funds are continuing to grow while enjoying substantial tax deductions -- even as many contributions go to other DAFs.