Tax deductions

The proposed guidance provides rules addressing how the regulation will affect individuals, partnerships, S corporations, trusts and estates engaged in domestic trades or businesses.

Taxpayers can use the deduction up until the Tax Cuts and Jobs Act says they can't.

The Internal Revenue Service’s initial guidance on the executive compensation deduction won’t settle all of the lingering questions.

Taxpayers in New York and Connecticut still have a few potential options to avoid the hit from a new cap on state and local tax deductions, while residents of other high-tax jurisdictions may only have creative estate planning as a last resort.

The IRS is blocking the charitable workarounds high-tax states like New York approved in response to the tax law’s $10,000 limit.

The Internal Revenue Service put the tri-state area on notice: The charitable workarounds New York, New Jersey and Connecticut approved following the new federal cap on deductions for state and local taxes aren’t acceptable to the federal government.

Republicans thought the historic overhaul that slashed taxes would be one of their main campaign selling points ahead of November elections. Instead, Democrats are talking more about the law — and how they want to undo it.

These proposed regulations affect taxpayers who deduct depreciation for qualified property acquired and placed in service after Sept. 27, 2017.

The Internal Revenue Service has been sending a series of messages in recent weeks to taxpayers and tax professionals urging them to check the online withholding calculator to make sure they have the proper amount withheld from their paychecks so they can avoid a nasty surprise next tax season.

The Internal Revenue Service provided initial guidance Tuesday on how to deal with the rule changes surrounding the executive compensation deduction after passage of the Tax Cuts and Jobs Act last year.

There’s one area where the traditional pension plan is getting new life — as a tax dodge for wealthy business owners.

This handful of provisions from the Tax Cuts and Jobs Act are worth immediate attention.

As we enter into the tax planning stage of the year, the focus shifts to helping clients understand the impact of the Tax Cuts and Jobs Act and optimize their tax positions.

Facing the loss of a valuable deduction, high-tax states file a lawsuit.

The Treasury Department and the Internal Revenue Service proposed regulations Friday to increase and expand the first-year depreciation deduction for qualified property from 50 to 100 percent, carrying out a provision of the Tax Cuts and Jobs Act.

Among the wealthy tri-state area set, there’s more buzz than ever about fleeing south to Florida, land of mild winters and, more importantly after last year’s federal tax overhaul, zero state personal income tax.

Four Democratic-led northeastern states sued the Trump administration to invalidate the new $10,000 cap on the federal tax deduction for state and local taxes.

The upcoming rules may affect one tactic that some wealthy taxpayers have been using to get around the cap on deducting local property taxes.

In many cases, the profitable sale of a second home will result in a tax-favored capital gain.

The new tax law allows for full and immediate write-offs through 2022.