Tax deductions

The amount of total assets under management in donor-advised funds grew 9.7 percent to more than $85 billion last year, as an 80-year-old vehicle for philanthropy and charitable giving continues to grow in popularity.

A majority of small business owners oppose the tax reform plans now being considered by Congress, according to a new survey.

A new revenue procedure provides a safe harbor allowing taxpayers to deduct costs for fixing deteriorating foundations.

Republican lawmakers are scrambling to lock up the votes needed to finalize a tax bill that can make it to President Donald Trump’s desk by the end of the year, without the benefit of an important estimate of its possible economic benefits.

Even Bruce McGuire, founder of the Connecticut Hedge Fund Association, understands if wealthy Northeasterners flee the region due to changes in the tax code.

As 2017 draws to a close, the uncertain tax and legislative environment means that year-end tax planning is more important than usual. To help individuals and businesses prepare for filing season, Grant Thornton LLP has some tips.

A new 50-state analysis of the tax reform bill passed last week by the Senate Finance Committee finds the plan would increase taxes on at least 29 percent of taxpayers by 2027 and cause the populations of 19 states to pay more in federal taxes than they do today.

As the Republican-controlled Congress tries to push through tax reform this year, one group of Americans may question why it’s coming up a scoop short.

The Republican tax-overhaul effort is in for a marathon debate on the Senate floor at the end of this month, with dozens of doomed Democratic amendments. But the real action will be elsewhere, behind closed doors.

Senator Susan Collins said the Republican tax plan passed by the Senate Finance Committee on Thursday “needs work.”