Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.

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

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

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

Social media posts claim President Donald Trump just signed a bill that would allow for home gyms to be tax deductible. They are false.

The law creates a new deduction of up to $6,000 for people age 65 and older until 2029, and creates a tax break for up to $10 ...

Rejecting a summary denial of deductions, the Tribunal restored the issue to the AO to verify whether mortgage repayments and other costs were wholly connected with the transfer. Taxpayers were ...

Taxpayers are advised to track their return status on the income tax e-filing portal and wait for the intimation once it is ...

A leading marijuana prohibitionist group says it’s retained the legal services of President Donald Trump’s former attorney ...

The tribunal held that remuneration received by a professional partner qualifies as professional income. The key takeaway is that such receipts can be taxed under Section ...

The Dec. 31 deadline for 401(k) contributions catches many Americans off guard. Here's the money move people consistently ...