Tax deductions

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.

Clients should not only check the fees, but also compare their after-tax returns.

The break on qualified business income will save company owners an estimated $415 billion over the next decade. Are your clients eligible?

While it offers a hefty tax deduction for pass-through income, an expert says the rules are a "convoluted mess.”

One strategy includes encouraging clients to wait until the age of 70 to start collecting Social Security benefits.

Holiday parties and team-building outings may still be deductible. What about entertaining prospects over dinner?