Tax Strategies

A $30,000 cap on the state and local tax deduction would be a compromise between current law and the more generous limit in the House's version of the bill.

Senate Majority Leader John Thune said Republicans in his chamber expect to deliver on President Donald Trump's campaign promises.

House Speaker Mike Johnson said he's pressuring Senate Republicans to refrain from changing a deal to increase the state and local tax deduction cap to $40,000.

Under the initiative, the government would make the one-time contribution into a tax-deferred, low-cost index fund that will track the overall stock market.

Lawmakers are largely taking their cues from Trump and sticking by the $3 trillion bill at the center of the White House's economic agenda.

It's time to identify and implement business strategies that drive your firm's growth and keep you ahead of the curve in an ever-changing economic environment.

President Trump told Senate Republicans he is open to a state and local tax deduction cap lower than the $40,000 in the House-passed version of his tax bill.

The deal that led the House to increase the maximum deduction for state and local taxes to $40,000 is not set in stone in the Senate.

In the world of depreciation planning, one small timing detail continues to fly under the radar — and it's costing taxpayers serious money.