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.

The Creating Hospitality Economic Enhancement for Restaurants and Servers would provide a tax deduction for bars, restaurants and entertainment venues with draft beer systems.

There are talks of protesting a key piece of tax law that prevents marijuana companies from deducting expenses like other companies do.

The agency will begin three to four dozen new audits this spring to see if inappropriate deductions were made.

The Internal Revenue Service will be scrutinizing the use of corporate jets, focusing on big corporations and partnerships, as well as high-income taxpayers.

SALT benefits; taxing blockchain tech; how to onboard; and other highlights from our favorite tax bloggers.

The Qualified Business Income tax deduction of 20% is set to expire in 2025 (unless it's extended), which may have clients who are starting a business wondering about the potential impact of their choice of entity.

Lawmakers are trying to drum up support to allow a debate on raising the state and local tax deduction cap as bipartisan tax package negotiations leave out those proposals.

The new deduction rates apply to electric and hybrid vehicles, as well.

ERC red flags; moving to the cloud; security and the holidays; and other highlights from our favorite tax bloggers.

The regulations address new subsections of the law from the SECURE 2.0 Act.