Tax deductions

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.

A ‘wave’ of claims for the Domestic Production Activities Deduction sparks an alert.

The Tax Court added its voice to the dilemma facing many taxpayers working remotely due to the pandemic.

Unexpected windfalls and limitations may accrue to WFH clients — and their financial planners.