Tax deductions

But success depends on the outcome of the November midterm election, with a resounding win for one party likely inhibiting any compromise before a new Congress swings into action.

A look inside some of the green energy and energy-efficiency provisions of the new legislation, and what they'll mean going forward.

The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.

Many of the income thresholds governing certain tax credits and deductions don't keep pace with inflation. The result: things are even more expensive.

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

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.

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.

Advocates say they'll continue pushing for the write-off, but it is not widely popular.

The pandemic-related tax provision permits more people to deduct donations to qualifying charities on their 2021 federal income tax return.

Well-off professionals in costly areas of the U.S. are set to get a windfall from competing plans to change the deduction limit for state and local taxes.

The service released its annual inflation adjustments Wednesday, including the standard deduction amount for individual and married taxpayers.

That Rothko, Basquiat or Banksy hanging in the front hall may be a great way to get a tax break.

Most advisors don’t know about the tax benefit for qualified small business stock, which can put millions of dollars tax-free into an entrepreneur-client’s bank account.

Sen. Wyden’s bill would give the benefit to currently ineligible professions while curbing its use by wealthy business owners.

Pulling the costs directly out of clients’ IRAs can blunt the sting, but it shrinks the pot of tax-deferred retirement assets.

Some taxpayers, including those who aren't millionaires, have been hammered by the limit, writes Bloomberg’s Alexis Leondis.

When it comes to gifting to a child that isn’t your own, author Erin Lowry writes things do become a tad more complicated.

Many RIAs can qualify for this lucrative benefit. Here’s what you need to know this tax filing season.

Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.