Tax deductions

Uncertainty around sunsetting provisions should have professional athletes planning ahead on their taxes.

This election season could have a more significant effect on tax policy than most. How can CPAs guide their clients through this potential volatility in tax policy?

Rev. Proc. 2019-48 lays out the new rates for taxpayers who don't want to substantiate their actual expenses.

The former president pledged to lift a cap on the state and local tax deduction valuable to many New York homeowners that he imposed as president.

Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House.

Taxpayers earning more are more likely to choose to itemize their deductions, while taxpayers earning less tend to favor the standard deduction.

The SALT cap is one of several tax issues to be confronted next year, with key portions of Trump's 2017 tax cuts expiring at the end of 2025.

If marijuana is reclassified, lots of businesses may want to reconsider their structure.

Economists advising Donald Trump are pushing to keep a cap on the state and local tax deduction, limiting a valuable tax break for many residents of New York, New Jersey and California.

Chief obstacles; tax illiteracy; what makes a great preparer; and other highlights from our favorite tax bloggers.