As for the taxation of gambling winnings: The new tax law that took effect in 2018 continues to allow winners to deduct their gambling losses up to the amount of gambling income, as long as […]
A number of high-tax states have recently passed legislation to help residents manage new caps on their ability to take federal tax deductions. However, accountants are warning taxpayers to proceed with caution. This year, the […]
For starters, try a strategy called “bunching.” Rather than giving every year, “give a greater amount every other year,” said Amy O’Loughlin, a director in CBIZ MHM’s tax and business services division in Phoenix, Arizona. […]
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