Tax Strategies

If elected, Trump would go into negotiations with Congress regarding a set of tax proposals totaling $11 trillion and counting, according to the Tax Foundation.

Kamala Harris will deliver a speech "to outline my vision for the economy." Donald Trump, meanwhile, is set to offer remarks in swing-state Georgia on a plan to lower taxes for U.S. business owners.

Rev. Proc. 2019-48 lays out the new rates for taxpayers who don't want to substantiate their actual expenses.

In his meeting, Vance touted Trump's pledges to lower taxes and argued for the Republican nominee's tariff policies.

The former president pledged to lift a cap on the state and local tax deduction valuable to many New York homeowners that he imposed as president.

Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House.

Between the coming sunset of the Tax Cuts and Jobs Act, the presidential election and a host of other factors, this is shaping up to be a tough year for advising clients.

Taxpayers earning more are more likely to choose to itemize their deductions, while taxpayers earning less tend to favor the standard deduction.

Whoever wins, '2025 is going to be a very interesting tax legislative year.'

The OZ program allows investors to defer capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.