65.5 F
Thursday, October 22, 2020
Home Authors Posts by Laura Davison

Laura Davison

HOUSE DEMOCRATS are seeking to raise the SALT cap to $20,000 for married couples in 2019, before repealing it fully in 2020 and 2021 via legislation. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

Democrats take final swipe at SALT cap before year’s end

WASHINGTON – House Democrats are making a last-ditch bid to reverse the $10,000 cap on state and local tax deductions before year’s end. But...
EFFORTS TO BLUNT the effect of the state and local tax deduction cap introduced in 2017 have been unsuccessful. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

Democrats find few Republican allies to dull sting of SALT tax

WASHINGTON –  Democrats are staging a long-shot attempt to chip away at the Republican tax law’s limit on state and local tax deductions, finding...
A FEDERAL JUDGE has thrown out a lawsuit filed by New York, New Jersey, Connecticut and Maryland seeking to block the cap on state and local tax deductions. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

SALT tax-cap challenge by New York and New Jersey is thrown...

NEW YORK – Four states in the eastern United States lost a legal challenge to a provision of the 2017 law that limited write-offs...
NEW YORK, NEW JERSEY and Connecticut have sued President Donald Trump’s administration over a provision in the 2017 tax law that limited write-offs for state and local taxes. / BLOOMBERG FILE PHOTO/ANDREW HARRER

N.Y., N.J. & Conn., pursue another battle in SALT deduction war

NEW YORK – New York, New Jersey and Connecticut are again suing President Donald Trump’s administration over a provision in the 2017 tax law...
A REPEAL OF the state and local taxes cap would lower the burden for households earning at least $1 million by $40.4 billion, or 52% of the $77.4 billion in additional tax breaks that the repeal would provide, according to the Joint Committee on Taxation. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

SALT cap repeal would be $40B windfall for millionaires

WASHINGTON – More than half of the benefit of repealing the $10,000 deduction cap for state and local taxes would go to millionaires, according...
U.S COMPANIES REPATRIATED $876.8 billion from the Republican overhaul of the international tax system and the end of the first quarter of 2019. President Donald Trump said $4 trillion would return as a result of the law. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Corporate America is repatriating a fraction of foreign profits

WASHINGTON – Corporations brought $100.2 billion of overseas profits back to the United States in the first quarter, marking $876.8 billion that has returned...
CHARITABLE GIVING by individuals in the U.S. fell an estimated 3.4%, after adjusting for inflation, last year, following changes in the 2017 Republican tax overhaul, according to a report released Tuesday by Giving USA. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER

Trump’s tax law made Americans less charitable, nonprofits say

WASHINGTON – Americans gave less money to charities last year partly because the Republican tax law changes made many people ineligible for tax breaks...
EFFORTS TO RAISE the cap on SALT deductions or to create workarounds for taxpayers in high tax states are not expected to succeed. / BLOOMBERG FILE PHOTO/ MICHAEL NAGLE

It’s over: States lose fight against SALT deduction cap

WASHINGTON – New York, New Jersey and Connecticut have been fighting a new cap on state and local tax deductions ever since it was...
DONALD TRUMP'S tariffs already in effect cost the average household about $831, according to research from the New York Federal Reserve, about $100 less than the an average tax cut of $930 for middle earners./ BLOOMBERG NEWS FILE PHOTO/QILAI SHEN

Trump’s tariffs have wiped out most families’ tax cut gains

NEW YORK – President Donald Trump’s trade wars have already wiped out all but $100 of the average American household’s windfall from Trump’s 2017...
THERE ARE 25 approved Opportunity Zones in Rhode Island, including Downtown Providence and much of the city's waterfront.. / COURTESY R.I. COMMERCE CORP./GOOGLE INC.

Opportunity Zone rules aim to draw capital to distressed areas

NEW YORK – It will be easier to invest in businesses and real estate in low-income communities throughout the United States now that the...

Stay up to date with PBN's Morning Call & Daily Edition newsletters.

- Featured Event -

Latest News

Subscribe with Providence Business News to keep reading.

We’re glad you are enjoying PBN.