Rental property tax deductions allow you to claim the cost of repairs, maintenance, taxes, insurance, depreciation and any ...

The Big Beautiful Bill passed the House in the early morning of May 22, 2025. Trump has staked a great deal of his ...

The GOP-backed 'One Big Beautiful Bill Act' proposes a significant increase in the SALT deduction limit, aiming to appease ...

Tax practitioners should be familiar with the special rules that apply and issues that can arise when an accounting method change is made while a taxpayer is under IRS examination.

ITAT Jaipur held that expenditure towards supply of food packets for employees which was subjected to GST shall not be considered as contract and hence provisions of section 194C shall not apply.

ITAT Jaipur held that disallowance u/s. 40 (a) (i) of the Income Tax Act untenable since amount of commission paid to a non ...

A tax shield is a reduction in taxable income for an individual or corporation achieved through claiming allowable deductions such ... including, but not limited to, the duration of ownership ...

Trump adviser Stephen Miller and Homeland Security Secretary Kristi Noem are giving ICE new ramped-up immigrant arrest quotas ...

The state might allow the taxpayer to make deductions for expenses not allowed by the federal tax codes, thereby lowering his state taxable income. States without state income tax include Alaska ...

House Republicans have passed their “One Big Beautiful Bill Act”—that’s indeed the title—to be sent to the Senate for ...

NEW YORK MINUTE: Former Rep. Charles Rangel — the trailblazing “lion of Lenox Avenue,” one of Harlem’s iconic Gang of Four ...

For example, you're not allowed to deduct any item that could be considered a gift or entertainment. In addition, you have to be prepared to substantiate your deduction with records of what you spent.