Tax deductions

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?

Although annuities incur taxes and costs, clients "can invest the same amount into a diversified municipal bond portfolio and pay no taxes,” an expert says.

Higher deduction ceilings have made itemizing a moot point for most individuals, but a novel strategy can yield real additional savings.

Congress created a juicy new tax break, yet hundreds of thousands of clients still don’t know if they can claim it.

The agency has reprogrammed its systems to process three benefits most likely to be claimed on returns this season.

Battles will ensue over the Trump tax plan’s treatment of payments to former spouses.

Claiming above-the-line tax write-offs doubles the standard deduction.

What some clients tried to claim on their tax returns shows they often don't know much about accounting.

Entrepreneurs who suffer continuous losses could find their work classified as a hobby by the IRS.