Tax deductions

Many of the provisions of the OBBBA benefit businesses, but colleges and universities will take a hit, as will companies in renewable energy.

The president's signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire.

Tax clients are already starting to ask their accountants about the many changes in the massive One Big Beautiful Bill Act passed by Congress last week.

Donor-advised funds are continuing to grow while enjoying substantial tax deductions -- even as many contributions go to other DAFs.

A sizable increase to the current $10,000 limit on SALT write-offs would represent a major victory for a crucial group of swing-district House Republicans.

Uncertainty around sunsetting provisions should have professional athletes planning ahead on their taxes.

The agency will begin three to four dozen new audits this spring to see if inappropriate deductions were made.

The new deduction rates apply to electric and hybrid vehicles, as well.

The regulations address new subsections of the law from the SECURE 2.0 Act.

The ultra-wealthy are using DAFs and private foundations to avoid taxes and exert influence, at the expense of ordinary taxpayers.