If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.

The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

H.R. 1, P.L. 119-21, the law commonly known as the One Big Beautiful Bill Act (OBBBA), contains provisions of special ...

This article is the first in a new column, Personal Financial Planning, covering the role of CPAs in advising individuals and ...

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

A new tax break known as the “Production Deduction” was signed into law by President Bush late last year and is effective for years beginning after Dec. 31, 2004. Construction contractors and ...

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...

Here’s how to give wisely.

A little-noticed consequence of the proposed regulations on the 20% qualified business income (QBI) deduction introduced by the legislation known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, is ...

You don’t have much choice when it comes to whether to pay your taxes, but you can decide how to approach your tax deductions — those allowable subtractions that can lower the amount you owe in taxes.

The 2017 Tax Cuts and Jobs Act has resulted in numerous changes to the tax laws— both on the individual and business levels. Some of the most impactful changes affecting 2018 and beyond are those ...

Although losses are usually beneficial for tax purposes, losses from passthrough entities potentially adversely affect the 20% qualified business income (QBI) deduction under Sec. 199A. These losses, ...