Tax deductions

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.

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.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

Experts have identified a dozen credits, deductions and more as worth particular attention this year.

While qualified contributions won’t necessarily give clients the biggest tax bang for their buck, there are exceptions to the rule, Jeffrey Levine writes.

A critical PPP deduction, tax extenders, business meal deductions and more are among the critical points.