tax reform – Page 2 – Putnam Wealth Management

Tax reform proposal seeks to curb deductions

Limiting or reducing deductions were among the highlights of the most recent tax reform proposal on Capitol Hill, catapulting tax-preference items to the forefront of the debate once again. Although unlikely to proceed as a formal piece of legislation, the Tax Reform Act of 2014 — released last week by House Ways and Means Committee

Taxes

Congress faced with dueling budget proposals

While the House this week approved a budget plan for FY 2014, the Senate continues to debate a starkly different proposal. As the budget process progresses, neither plan is likely to garner bipartisan approval, but the proposals illustrate the differences between the two political parties. Not surprisingly, long-term deficit reduction is a priority in both