Tax Deductions
News updates about tax deductions advisors should consider for their clients.
December 04, 2024
Ed Slott: Big Moves Clients Should Not Make Before Year-EndAmong Slott's suggestions: Stop telling clients to beef up their 401(k)s and IRAs.
December 02, 2024
12 Most Generous U.S. StatesAlthough many Americans are not able to give much money, WalletHub found, they generously donate their time.
November 14, 2024
Debate: Should the SALT Deduction Cap Be Eliminated?The state and local tax deduction limit of $10,000 per federal return could expire after 2025.
November 06, 2024
Trump Has Proposed Nearly $8 Trillion in Tax Cuts. What Happens Now?Trump will now have to offer details of all the cuts he floated in recent months, says Greg Valliere.
September 30, 2024
Pre-Retirees and Retirees Prioritize Charitable Giving: SurveyRetirees tend to donate first, then volunteer, while pre-retirees do both in equal measure, Fidelity Charitable found.
September 25, 2024
The Tax Cuts and Jobs Act Could SunsetMaybe you know that. Do your clients know that?
September 23, 2024
Debate: Should COVID-Era Health Insurance Subsidies Be Extended?After 2025, the expansion of the premium tax credit will expire unless Congress acts.
September 13, 2024
New Bill Creates $25,000 Tax Deduction for SeniorsThe Seniors in the Workforce Tax Relief Act establishes an above-the-line deduction for 2024 through 2028.
September 04, 2024
North Dakota to Vote on Eliminating Property TaxesThe ballot measure might sound appealing but "could come back to haunt North Dakotans," the Tax Foundation says.
September 04, 2024
How to Prepare for Higher Tax Brackets in 2026While advisors brace for the potential halving of the estate tax exemption, most taxpayers have a bigger concern.