But only losses caused by events the president declares eligible for federal disaster relief are tax-deductible.
A type of trust known as a GRAT allows for larger tax-free transfers when interest rates are low.
Because they were unconventional, the wills could be challenged.
Traditional IRAs can be used to realize tax benefits related to medical expenses, business losses and charitable contributions
What should taxpayers do if they get an IRS letter warning that they may owe taxes on their holdings of bitcoin or other digital currencies?
The administration is working on a plan to index capital gains to inflation, and it might do so in a way that bypasses Congress.
Giving by corporations, foundations and individuals declined an estimated 1.7% last year.
New Treasury regulations dealt a final blow to states' workarounds to the federal limit on deducting state and local taxes.
If the president imposes levies on imports from China and Mexico, middle-earning households could end up paying almost $4,000 more.
Stretch IRAs may be going away, but their spirit lives on in other tax-planning strategies.
Instead of taxing a child's income as if it were the parents', a child's income is now taxed using the trust tax brackets.
The rules provide a more flexible timeline for investing cash, as well as a one-year grace period to sell assets and reinvest the proceeds.
New tax rules could affect retirees' decisions on where to relocate.
A provision of the 2017 tax overhaul that provides a break for investments in low-income communities hasn't attracted much interest.
The penalty for failing to file exceeds the penalty for failing to pay, and an extension can also help with saving for retirement.