Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Should Lawmakers Block Biden's Infrastructure Bill Over SALT Cap?
By Robert Bloink | William H. ByrnesTwo professors debate whether the $10,000 cap on the deduction for state and local taxes should be repealed.
January 21, 2021
Yellen Leaves Door Open to Tax Increase on WealthyPlus, the wealthy could be audited at higher rates under her tenure, says the Treasury Secretary-designate.
December 04, 2020
IRS: Business Expense Tax Deductions and PPP Loan Forgiveness Don't Mix (Usually)There are limited circumstances in which "double dipping" by PPP loan borrowers is allowed, according to IRS guidance.
September 16, 2020
Biden's Plan Would Create Payroll Tax 'Donut Hole'The tax, which funds Social Security, would be expanded to the highest earners under Biden's tax plan.
June 26, 2020
5 Ways Advisors Can Ease Clients' Tax Concerns NowWith the July 15 tax deadline looming, a TD Wealth senior trust advisor points to ways investors' tax burdens can be lightened.
May 12, 2020
House Democrats Unveil $3 Trillion Aid Bill With Cash for StatesThe bill includes more cash payments and tax changes; Republicans signaled that they're in no rush.
April 10, 2020
What Your Clients Don't Know About Tax Law Changes Can Hurt ThemA survey of taxpayers found that mistakes on tax returns are extremely common.
February 20, 2020
Taxpayers Still Confused About 2017 Changes: SurveyThree-quarters of taxpayers are unaware of more recent tax-related laws like the Secure Act, according to an audit defense firm.