Taxpayers who are in business to make a profit can generally deduct related expenses. The burden of proving a profit motive is on the taxpayer. Otherwise, ...
The IRS has released new 2025–2026 special per diem rates for ordinary and necessary business expenses incurred when traveling away from home. The guidan...
One tax provision made permanent by the One Big Beautiful Bill Act (OBBBA) is the availability of the Low-Income Housing Tax Credit (LIHTC). According to t...
On Sept. 22, 2025, the U.S. Treasury Dept. updated the public on its IRS IT modernization initiatives. The goals are to improve taxpayer services, enhance ...
The IRS is providing tax relief to farmers and ranchers in applicable states and regions who sold or exchanged livestock because of drought conditions. Und...
As the fall season begins, thoughts turn to year-end tax planning. An overlooked area of the tax code is the “kiddie tax.” It generally applies to most...
The last quarter of 2025 is nearly here. It’s a time when many people determine their year-end charitable donation strategy. In light of changes under th...
IRS guidance is now available for the new tax deduction for workers who earn tips. The proposed regulations identify eight categories of jobs that qualify ...
Most IRS employees you might come in contact with are professionals committed to problem-solving and fair outcomes. However, there may be some bad apples. ...
Certain taxpayers will claim deductions made available by the One Big Beautiful Bill Act on a new tax form. These include new deductions for seniors, those...
