Tax deductions

Overall donations to charity organizations fell by 1.7%, while total individual giving decreased by 1.1%, the first drop since 2013.

Despite changes in the new law aimed at scrapping a penalty for most new couples, those from high-income households may owe more this year.

There are still several moves that clients can make to reduce their 2018 tax bill.

A higher standard deduction makes itemizing deductions less valuable.

Changing filing statuses and maxing out deductible contributions to IRAs and HSAs are some ways clients received bigger reimbursements.

Those who fail to repay their loans on time may face early withdrawal penalties.

Modifications should be made as soon as they determine their liability for 2018 and the impact of the new law on their returns, an expert says.

Working parents who paid for day care, summer camp or a babysitter on the books are advised to take advantage of this break.

Donating complex assets is one option clients may consider when itemizing deductions on their 2018 returns, an expert says.

With two months left in 2018, clients can still take advantage of these tax hacks.

Tax overhaul has scrapped taxes on a child's excess unearned income at the same rate as their parents.

Here’s what advisors need to know about the 20% qualified business income rule.

Mapping out their cash flow and identifying existing and potential problem areas are good places to start.

Failing to monitor reinvested dividends could boost their tax bills.

Clients must still account for gains not incurred through a sale or cash distribution.

Although the rules have become more lenient, high-income clients must not be complacent.

Salary-reduction arrangements can exclude up to $520 each month from a client’s taxable income to cover these expenses.

The Tax Court rules that creditors must have hard evidence that an obligation is uncollectable before they deduct it.