Tax planning

Democratic presidential candidate Pete Buttigieg took on one of the most fraught tax issues in Democratic politics, proposing that the $10,000 cap on state and local tax deductions be lifted.

Senators Bernie Sanders and Elizabeth Warren would bring one of the most progressive tax agendas in history to the White House if either of them were to become president. So would every other Democrat vying for the presidency.

They’re still valuable, but require stricter attention to the rules than ever.

Michael Bloomberg is proposing a financial transactions tax of 0.1 percent and merging Fannie Mae and Freddie Mac as part of a proposal for regulating Wall Street for a financial system “strong enough to weather crises without harming the broader economy or requiring taxpayer bailouts.”

Michael Bloomberg said Saturday he would raise taxes on the wealthy, increase the corporate tax rate, and curb tax-free inheritances of large estates, elements of a tax plan that he says would raise $5 trillion over a decade.

The former Treasury Secretary proposed a suite of steps the U.S. government can take to raise trillions of dollars more in revenue from the rich without adopting a wealth tax.

One way the rich get richer is through inheritance, and they’re barely paying taxes on it.

The billionaire and Democratic presidential contender would pay $17.9 million more in annual taxes under a plan Democrats are considering should they sweep Congress and the White House in the 2020 election.

As an accounting professional, you know there are potential tax-related upsides and downsides for every type of business entity.

Democratic presidential candidates Joe Biden and Bernie Sanders have overestimated the amount of revenue their tax proposals would generate by hundreds of billions, or even trillions, of dollars, according to a new study.

They call themselves the Patriotic Millionaires, and they say with straight faces it’s time the ultra-affluent kick in more to Uncle Sam.

The White House continues to work on a tax-cut plan in hope that Republican lawmakers will be in control of Congress after the 2020 elections, President Donald Trump’s top economic aide Larry Kudlow said.

For the owner of a multimillion-dollar company, selling by the end of 2020 could result in a much smaller tax bill than striking a deal in 2021 under new rules.

Consumers in 2019 were more likely to say plans to hike taxes on the wealthy would harm economic growth than they were in prior years, despite it being a key campaign pledge for nearly every Democratic presidential candidate, according to a new University of Michigan survey.

The controversy keeps mounting over a new tax break for investing in poor U.S. communities. But investors keep piling in.

The Internal Revenue Service debuted a new Gig Economy Tax Center on its IRS.gov website to help taxpayers who work with companies like Uber and Airbnb meet their tax obligations.

The Avantax Wealth Management parent views HK Financial as another way of working with CPAs and tax professionals branching into the field.

The world’s second-richest person said he wants his fellow billionaires to pay much higher taxes.

Teach clients to avoid the end-of-the-year rush to make the most of their donations.

The Internal Revenue Service issued the 2020 optional standard mileage rates that taxpayers and tax professionals can use to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.