Tax Reform
Learn about the latest tax reform developments and their potential impact on your clients' income, portfolios and financial plans more broadly.
SALT Deduction Bill to Get Procedural Vote Wednesday
By Melanie WaddellThe SALT Marriage Penalty Elimination Act would double the cap to $20,000 for couples earning less than $500,000.
January 29, 2024
New Bill Repeals Social Security Tax, Raises Cap on WealthyIt would "be fully paid for by raising the cap for individuals earning more than $250,000 annually," said Rep. Yadira Caraveo.
January 29, 2024
Tax Bill With 100% Bonus Depreciation May Get House Vote This WeekIt also expands the small business expensing cap, increasing the immediate write-off to $1.29 million.
January 24, 2024
He Fled California Taxes. Now He's Fighting Them in WashingtonWashington has no state income tax but does have a 7% levy on capital gains over $250,000, which raised $900 million its first year.
January 19, 2024
House Panel Advances Tax Bill With 100% Bonus DepreciationThe bill also expands the small-business expensing cap and the Child Tax Credit.
January 16, 2024
New Tax Bill Includes 100% Bonus Depreciation"This is a big deal for small and medium-sized businesses," Jeff Bush of The Washington Update says.
January 09, 2024
13 States With Income Tax Cuts in 2024The reductions continue a trend of significant changes following the pandemic, according to the Tax Foundation.
January 08, 2024
Spending Deal Would Keep Social Security Budget FlatTax legislation is also in the works and could be attached to a spending bill.