Expenses & Deductions

IRS Proposes Changes to Rules for Dependents

The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.

Form 8332 Challenges for Divorced Couples

When parents divorce without a meeting of the minds or a well-crafted agreement, issues can result as to who is entitled to the tax benefits from supporting their children.

Individual Tax Update

This article covers recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.

Health Savings Account Limits for 2017 Are Issued

The IRS issued the inflation-adjusted figures for the annual contribution limits for health savings accounts and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible plans.

Deducting Business Bad Debts

Planning that maximizes the business bad debt deduction can help minimize the taxpayer’s overall economic loss.

Newsletter Articles

SPONSORED REPORT

States look to unclaimed property for revenue

State audits of abandoned and unclaimed property (AUP) have exploded in recent years. This report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.