Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Debate: Should the Tax Bill Increase the Business Income Deduction?
By Robert Bloink and William H. ByrnesThe Senate version of the bill would increase the QBI deduction to 23% and make other changes.
June 18, 2025
Trump Urges SALT Deal as Lawler Stands Firm on $40,000 Cap“We’re not going to fold here,” the New York congressman says.
June 16, 2025
Senate Deadlocked on SALTThe draft bill, slated to be released later Monday, includes the current $10,000 SALT cap.
June 12, 2025
Republican Senators Consider $30,000 SALT Cap in Trump Tax BillThey are trying to reduce the House-passed $40,000 SALT limit, Sen. Thom Tillis says.
June 10, 2025
Johnson Urges Senate to Minimize Changes to $40,000 SALT DealTrump last week told Senate Republicans he is open to a smaller boost to the deduction cap.
June 09, 2025
Senate Republicans Plan to Release Major Revisions to Trump’s Tax BillThe Senate Finance Committee is expected to release a draft this week.
June 06, 2025
Debate: Does Auto Loan Interest Warrant a Tax Deduction?The Trump administration has proposed an above-the-line deduction of up to $10,000 per year.
May 14, 2025
House Tax Bill Extends Crucial Deductions for Business-Owning ClientsThe bill reinstates 100% bonus depreciation and increases the break on qualified business income.