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Small business owners could avoid a new federal limit on state and local tax deductions after the Internal Revenue Service said Wednesday that rules it released last month to prevent efforts in California and other states to circumvent the cap apply only to individuals.

Businesses will be allowed to claim a full federal tax deduction for contributions to charities or government programs — particularly those offering school choice scholarships — that offer state tax credits, the IRS said.

The IRS’ Aug. 23 rules cracked down on that option for individual filers after some high-tax states moved to turn state and local tax payments into deductible charitable contributions so residents could avoid the $10,000 cap on state and local tax deductions in the Republican tax law that took effect Jan. 1.

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The midterm election now just over eight weeks away is shaping up as a seismic collision between two powerful and competing forces, a rip-roaring national economy and a deeply polarizing and unpopular president.

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  • White House
President Trump speaks in the Roosevelt Room of the White House on Aug. 29.
President Trump speaks in the Roosevelt Room of the White House on Aug. 29. (Alex Wong / Getty Images)

A senior administration official is sounding an alarm about President Trump's “amorality” and “impetuous” leadership style in an unsigned opinion piece published in the New York Times. 

The newspaper describes the author of the unsigned column only as “a senior official in the Trump administration.” The White House is not immediately responding to a request for comment. 

The writer says Trump aides are aware of the president's faults and “we are trying to do what's right even when Donald Trump won't.” 

Two months ago, the long-awaited release of the Trump administration’s ambitious plan for peace between Israelis and Palestinians, what the president has called the “ultimate deal,” seemed imminent.

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President Trump sought to blunt the impact of a forthcoming book by longtime Washington journalist Bob Woodward, calling it possibly “made up” or the product of embittered aides, after a number of sensational excerpts emerged on Tuesday.

The Senate confirmation hearings for Judge Brett Kavanaugh started off contentiously Tuesday and will probably continue to gain steam Wednesday, with the first bout of public questioning of President Trump’s Supreme Court pick.

Democrats made clear Tuesday that the confirmation hearing for Brett Kavanaugh, President Trump’s Supreme Court nominee, will not go quickly or smoothly, though the chances of blocking his appointment in the GOP-led Senate remain slim.

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Three-quarters of Americans want to preserve key protections in the Affordable Care Act that bar health insurers from turning away sick customers, according to a new poll that highlights the political pitfalls of current Republican efforts to roll back the safeguards.

Arizona Gov. Doug Ducey scheduled a Tuesday news conference where he was expected to appoint former Arizona Sen. Jon Kyl to fill the seat of the late John McCain.