Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Senate Deadlocked on SALT
By Erik WassonThe draft bill, slated to be released later Monday, includes the current $10,000 SALT 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.
April 18, 2025
Why SALT Cap for Some High Earners Gets Special Focus in CongressRepublicans are on track to raise the $10,000 cap on the state and local tax deduction.
April 11, 2025
11 Common 529 Plan Questions, AnsweredThe educational accounts have a lot of potential but also come with a degree of complexity.