Independent thinking for complex markets and current events
House GOP leaders discussed a new, heightened state-and-local-tax deduction with a group of Republican holdouts as they race to salvage their party-line megabill from ruin. A $40,000 cap on the key deduction for individuals and $80,000 cap for joint filers was part of a list of items GOP leaders raised overnight as they scrambled to …
TRUMP ON AUTO INTEREST PAYMENTS AS TAX DEDUCTIONS: "We're going to do something that has never been done in this country before — If you buy a car in the United States that's made in the United States — we're going to let you deduct the interest payment for income tax." looks… pic.twitter.com/nw7cqhnZKl — amit …
by LarBrd33 I get you can apply capital losses against capital gains to minimize your taxable gains. I get there is a carryover where if you take more losses than gains, you can apply those losses against future gains. I get that there is a $3000 capital loss deduction where if your losses exceed your …
Vice President Kamala Harris is planning to unveil a new proposal to provide small businesses a $50,000 tax deduction for startup expenses. The policy would be a tenfold expansion of the current $5,000 startup tax deduction. Donald Trump has attacked Harris’ economic policy record and attempted to pitch himself as the candidate who would be …
TAMPA, Fla. (WFLA) — Sen. Rick Scott (R-Fla.) introduced a bill Wednesday that would provide homeowners a tax deduction on home insurance premiums. Scott said the Homeowners Premium Tax Reduction Act would provide a tax deduction of up to $10,000 for premiums paid annually for homeowners insurance at a primary residence. In a prepared statement, …
Changes to a popular 401(K) tax deduction are set to hit millions of high-earning Americans from next year. Workers over the aged of 50 are entitled to make catch-up contributions to their 401(K)s worth up to $7,500 this year. The annual cap on all contributions is $30,000. But from 2024, those earning over $145,000 will …