Tax deductions

The ultra-wealthy are using DAFs and private foundations to avoid taxes and exert influence, at the expense of ordinary taxpayers.

The service announced its annual inflation adjustments, including increases in the standard deduction and changes in tax brackets.

As inflation continues to rise, the service is increasing some, but not all, of the special per diem rates for expenses while traveling.

Legislation to extend the 20% deduction for pass-through businesses beyond its expiration date in 2025 is attracting bipartisan support in the House and Senate.

The former governor said he would keep the cap if elected president, declining to roll back a policy that has become a flashpoint for taxpayers in his own state of New Jersey.

Republicans on the Ways and Means Committee advanced a series of bills aimed at reducing taxes but also rolling back parts of the IRA.

A wave of new legislative proposals touch on a number of tax-related issues.

Queen Bey is challenging a $2.7 million tax bill.

From a bag of used clothing to artwork worth millions, donations can get a tax deduction — the complications arise when dealing with substantiation requirements. 

Hard data about charitable donations denominated in cryptocurrency is difficult to obtain.

Once primarily an issue for Democrats, GOP gains in New York have made the deduction an issue for them, too.

The service lays out what can — and what can't — be paid for with medical savings accounts when it comes to nutrition, wellness, general health and more.

Contributions to 401(k)s and IRAs now can reduce your 2022 taxes soon due this filing season. Here's what advisors, many of whom can themselves benefit, need to know.

The first quarter of this year finds businesses confronting plenty of tax and business challenges. Grant Thornton's latest tax guide provides some advice.

Rep. George Santos' first bill in Congress aims to boost the deduction from $10,000 to $50,000.

Affluent investors typically have more complicated financial lives and more ways to get things wrong when filing federal tax returns in 2023.

Owing $2 million in taxes, the "Machete" star and prolific businessman jokes that he now understands dog grooming isn't 'a legit expense.'

The 2023 season just opened, but you should still plan now for next year.

A chief counsel memo says taxpayers who want to claim tax deductions for donating cryptocurrency need to first receive a "qualified appraisal" if the amount exceeds $5,000.

Amid the end of pandemic credits and investment losses, filing a federal return this year has sobering moments.