Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Top 12 Metro Areas for Finding Self-Employed Clients
By Allison BellIn these markets, plenty of high-income business owners are already making heavy use of financial services.
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.
May 08, 2025
Republicans Mull Raising SALT Cap to $30,000“I’ve heard that number, and I’ve heard others as well,” Speaker Mike Johnson said.
May 01, 2025
SALT Talks Stall as GOP Mulls Limiting Tax Break to Middle ClassAn income limit on the tax break is a nonstarter for at least one key lawmaker.