Tax deductions

Cost segregation studies and other methods can help businesses minimize their tax liabilities — and maximize their cash for potential economic difficulties ahead.

With the House expected to take up the bill soon, here are its important details.

House Democrats who had threatened to block President Biden's tax and climate plan unless it also expanded the deduction for state and local taxes are signaling they'll back the legislation.

Despite what the wealth management industry suggests, some investors benefit more from the popular strategy than others.

Women who can expense travel for an abortion at their company may wind up with a tax bill.

Earnings in these accounts aren’t taxed unless a distribution exceeds a designated beneficiary’s qualified disability expenses.

The West Virginia senator opposes changes to the state and local tax deduction.

Stock market woes are depressing earnings for advisors who charge on client assets, but the pass-through benefit and a health insurance deduction can alleviate a lot of the pain.

The strategy is widely promoted, but it can leave some investors worse off.

The service's new practice unit stresses that agents should look more closely at designers of government-owned buildings than at commercial building owners.

The state and local tax deduction issue threatens to spark a showdown among Democrats as high-stakes Senate talks inch closer to a deal on President Biden’s economic agenda.

Investors who take a loss in a taxable account can use it to offset capital gains taxes owed from selling stocks that have appreciated.

With gas prices rising, the service announced an unscheduled increase.

Investors in digital assets have been pummeled recently by the longest losing streak since 2011, but if they act promptly, they can cut their tax bills.

They are pushing to help truckers, Uber and Lyft drivers, and other transportation businesses as they struggle with soaring gas prices.

Corralling social media; federal tax outlook; the cannabis business; and other highlights from our favorite tax bloggers.

The Supreme Court declined to review a New York-led constitutional challenge to the $10,000 cap on state and local tax deductions imposed by Congress in the 2017 tax law.

Practitioners share what those who want to start their own business know — and don’t know.

The service had denied deductions for eco-friendly model home because of occasional personal use by the owners.

Business owners and accountants alike can look to take advantage of certain deductions and expenses.