Are you considering making gifts during your lifetime or bequests at death to loved ones two generations or more below you? If so, beware of the generation...
If you’re covered by a high-deductible health plan (HDHP), you can contribute pretax income to a Health Savings Account (HSA). Funds can be withdrawn tax...
The IRS has released a new calculator to help businesses with multi-year construction and manufacturing contracts. The Excel-based Percentage-of-Completion...
Many teens are starting summer jobs and may earn tips. Tips are a nice bonus because they’re extra cash before payday. They can also result in a tax dedu...
Imagine getting locked out of your IRS tax account because the IRS incorrectly believes you’ve died. It’s rare, but it can happen due to processing err...
College student-athletes can now be legally paid for the use of their “name, image and likeness” (NIL) without risking NCAA eligibility. But if you sup...
If you need to speak to an IRS representative by phone, know that you’ll be required to verify your identity. You’ll be asked for your Social Security ...
Small landlords: You may be eligible for a valuable tax break. Unless you’re a “real estate professional” for tax purposes, rental losses are typical...
Earning income from a personal interest raises a key tax question: Is it a hobby or a business? This distinction is important because different tax rules a...
In May 2026, the IRS reinstated a previously discarded policy that allows taxpayers to request private letter rulings (PLRs) from the IRS, but only for “...
