Taxpayers could see tax cuts preserved, but there will be wrangling over election tax promises.
The IRS maintains strict standards for charitable contribution deductions. Here are some practical steps to ensure compliance.
Ending taxes on tips was one of Trump's key tax promises during the campaign.
The incoming Republican majorities in Congress mean Trump can enact a tax bill without making concessions to Democrats.
Simplifying the tax code for U.S. citizens working abroad would benefit both those Americans and America itself.
Deloitte's top Washington, D.C., execs think some GOP members of Congress will demand cap relief.
Advisors say life insurance retirement plans are too often overlooked for wealthy clients.
Leaders of the nation's largest retiree advocacy group vowed to hold the president-elect to his promise.
The muni tax-exemption may be on the chopping block to help pay for Trump's tax cuts.
Many expect Trump's policy promises, including a flurry of tax cuts, to turbo-charge economic growth.
The inflation indexing would reduce the amount of gain that is taxable when an investor sells assets.
Some gifting strategies are going to make less sense if taxes remain low and exemptions high.
The new rule was released as part of the final ruling on the SECURE Act.
Advisors can showcase their value to clients with a sophisticated projection contrasting “with conversion” and “without conversion” scenarios.
DSTs should be considered along with charitable trusts when weighing a client's deferral needs.
The agency is expected to funnel more resources into auditing these tax breaks.
Higher interest rates mean that the next president, whoever it is, will find it much harder to reduce taxes and increase spending.
A handful of Illinois politicians are once again eyeing a new tax on the highest earners.
It's been a while since so much uncertainty shrouded year-end tax planning.
Advisors warn that it doesn't take a lot of gambling winnings to trigger tax obligations.