Prior to the 2017 Tax Cuts and Jobs Act (Act), individual taxpayers were able to reduce their taxable income by deducting various investment-related expenses as miscellaneous itemized deductions. The Act suspended miscellaneous itemized deductions beginning in 2018 through January 1, 2026. As a result, investment advisory fees and other expenses incurred for the production or … Continue reading INVESTING FOR THE FUTURE: CAN OPERATING AS A “TRADE OR BUSINESS” REDUCE TAXABLE INCOME?