Tax Deductions
News updates about tax deductions advisors should consider for their clients.
GOP Senators Block Tax Bill With 100% Bonus Depreciation
By Melanie WaddellRepublican senators stopped further action Thursday on The Tax Relief for American Families and Workers Act of 2024.
June 20, 2024
IRS Targets 3 Types of Partnership TransactionsRegulations would address taxpayers shifting the basis of assets between partners or entities to lessen capital gains.
June 18, 2024
IRS to Crack Down on Tax-Dodging Asset ShiftsThe agency will issue regs on a technique allowing wealthy individuals and partnerships to move assets to avoid taxes.
May 28, 2024
Ed Slott: Your Clients Have a Big 401(k) Rollover ProblemEmployees leaving companies need more help understanding their options and the tax consequences, Slott tells ThinkAdvisor.
May 10, 2024
Tax Bill With 100% Bonus Depreciation Hits SetbackSenators' attempt to amend the measure to a must-pass aviation bill were scuttled.
May 08, 2024
Tax Bill Vote Hinges on Must-Pass Aviation BillA scramble by lawmakers to add amendments is holding up the vote, Sen. John Barrasso says.
May 07, 2024
Tax Bill With 100% Bonus Depreciation Gets a Shot in SenateThe measure is being attached to a bill to reauthorize the FAA, Sen. Ron Wyden says.
April 29, 2024
Debate: Do Taxpayers Benefit From Changes to the Saver's Credit?Starting in 2027, the credit will be replaced by a 50% matching contribution to existing 401(k)s and IRAs.