The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...
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As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations ...
Small unincorporated businesses were among the biggest beneficiaries of the TCJA. They received a 20% tax deduction, ...
President Donald Trump said he wants to make interest payments on car loans tax-deductible – but only for vehicles made in the U.S.
President Trump highlighted a tax cut for which many businesses have been clamoring – full and immediate deductions for ...
The announcement came as Trump touted his efforts to bolster the American economy, provide tax relief to U.S. citizens, and encourage domestic production.
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