Tax planning

House Republicans are approaching their next attempt at tax cuts the same way they did last year — by excluding Democrats.

Governor Phil Murphy’s progressive agenda, outlined in his first New Jersey budget, depends on approval of $1.5 billion in new riches from Democratic lawmakers reluctant to increase residents’ financial burden in one of the highest-taxed U.S. states.

Many preparers report a flood of early clients with questions about tax reform.

Sometimes the strategy can eliminate a domino effect of other expensive tax problems down the road, Ed Slott writes.

I hear the comment all the time, “If I do cost segregation, I’ll just give it all back in recapture when I sell.” Allow me to debunk that myth and more.

Three of America’s most discreet billionaire philanthropists have emerged as the biggest donors to the Goldman Sachs Philanthropy Fund after the IRS accidentally revealed their identities.

New Jersey Governor Phil Murphy proposed taxing online-room booking, ride-sharing, marijuana, e-cigarettes and internet transactions along with raising taxes on millionaires and retail sales to fund a record $37.4 billion budget that would boost spending on schools, pensions and mass transit.

Clients may face unexpected tax consequences from transactions with these digital assets.

The Illinois CPA Society has some advice for taxpayers who are betting on the March Madness tournament and manage to win money on their picks for the brackets.

Congressional Republicans created a juicy new break for business owners when they rewrote the U.S. tax code late last year. Three months later, hundreds of thousands of U.S. employers still don’t know if they can claim it.