New final regulations pose significant implications for possible income inclusions by U.S. corporations with foreign ...

The 2025 federal tax reform introduces significant changes to the State and Local Tax (SALT) deductions, particularly ...

“Taken as a deduction, foreign income taxes reduce your U.S. taxable income,” the IRS said. But the IRS noted “in most cases, it is to your advantage to take foreign income taxes as a tax ...

To avoid double taxation, the Internal Revenue Service provides a foreign tax deduction and tax credit. Only foreign income tax qualifies for the tax credit, but you can claim foreign sales tax as ...

“A tax deduction reduces your taxable income ... 30% of the cost of property put into service in 2022 through 2032. Foreign tax credit. The foreign tax credit allows taxpayers to receive ...

This option is best if you posted a loss because you can take the full deduction in the current tax year. Foreign exchange losses can be deducted against all types of income. Report gains and ...

Immigrants and wealthy universities, as well as foreign companies, would see higher taxes under the House-passed bill.

On a federal level, the IRS doesn't offer a universal tax incentive for all renters. The foreign housing deduction is the closest thing to a federal deduction available for renters. So ...