Newsletters
Final Regulations Issued on Car Loan Interest Deduction (TD 10054)
The Treasury Department and IRS have finalized regulations regarding the deduction of up to $10,000 in personal car loan interest by individuals for tax years 2025 through 2028. This includes regulati...
The Treasury Department and IRS have finalized regulations regarding the deduction of up to $10,000 in personal car loan interest by individuals for tax years 2025 through 2028. This includes regulati...
Proposed Regulations Would Deny Tax-Exempt Status to Private Schools Engaging in Racial Discrimination (NPRM REG-119986-25; IR 2026-103)
The Treasury Department and IRS have issued proposed regulations providing that a private school is not eligible for Federal income tax exemption under section 501(c)(3) if it considers race, color,...
The Treasury Department and IRS have issued proposed regulations providing that a private school is not eligible for Federal income tax exemption under section 501(c)(3) if it considers race, color,...
Partnership’s Final Partnership Adjustment Timely Under Extended Limitations Period (Katanga Properties, TC)
A Notice of Final Partnership Adjustment (FPA) issued by the IRS to a partnership was timely under Code Sec. 6235 because the partnership and IRS had agreed to extend the limitations period for maki...
A Notice of Final Partnership Adjustment (FPA) issued by the IRS to a partnership was timely under Code Sec. 6235 because the partnership and IRS had agreed to extend the limitations period for maki...
Disaster Tax Relief Bill Signed Into Law
The Doug LaMalfa Federal Disaster Tax Relief Certainty Act has been signed into law by President Trump....
The Doug LaMalfa Federal Disaster Tax Relief Certainty Act has been signed into law by President Trump....
IRS Modifies Automatic Accounting Method Change Procedures for Research Costs and Construction Contracts (Rev. Proc. 2026-32)
The IRS has modified automatic accounting method change procedures for research or experimental expenditures and certain residential construction contracts. Rev. Proc. 2026-32 modifies sections 7 an...
The IRS has modified automatic accounting method change procedures for research or experimental expenditures and certain residential construction contracts. Rev. Proc. 2026-32 modifies sections 7 an...
Plan carefully when dealing with ISOs
Incentive stock options (ISOs) give employees a "piece of the action" while allowing employers to attract workers at relatively inexpensive costs. However, before you accept that job offer, there are ...
Incentive stock options (ISOs) give employees a "piece of the action" while allowing employers to attract workers at relatively inexpensive costs. However, before you accept that job offer, there are ...
Sale of residence gain exclusion not always automatic
For homeowners, the exclusion of all or a portion of the gain on the sale of their principal residence is an important tax break....
For homeowners, the exclusion of all or a portion of the gain on the sale of their principal residence is an important tax break....
Client FAQ: Wash sales
Q. A large portion of my portfolio is invested in Internet stocks and with the recent market downturn, I've accumulated some substantial losses on certain stocks. Although I think these stocks will e...
Q. A large portion of my portfolio is invested in Internet stocks and with the recent market downturn, I've accumulated some substantial losses on certain stocks. Although I think these stocks will e...
Client FAQ: Home equity loans
Q. The recent upturn in home values has left me with quite a bit of equity in my home. I would like to tap into this equity to pay off my credit cards and make some major home improvements. If I get...
Q. The recent upturn in home values has left me with quite a bit of equity in my home. I would like to tap into this equity to pay off my credit cards and make some major home improvements. If I get...
Tax treatment of costs of starting a new business
As a new business owner, you probably expect to incur many expenses before you even open the doors. What you might not know is how these starting up costs are handled for tax purposes. A little knowle...
As a new business owner, you probably expect to incur many expenses before you even open the doors. What you might not know is how these starting up costs are handled for tax purposes. A little knowle...
Client FAQ: Gambling winnings and losses
Q. My wife and I are both retired and are what you might call "social gamblers". We like to play bingo and buy lottery tickets, and take an occasional trip to Las Vegas to play the slot machines. Ar...
Q. My wife and I are both retired and are what you might call "social gamblers". We like to play bingo and buy lottery tickets, and take an occasional trip to Las Vegas to play the slot machines. Ar...
Should you buy or lease your next vehicle?
Probably one of the more difficult decisions you will have to make as a consumer is whether to buy or lease your auto. Knowing the advantages and disadvantages of buying vs. leasing a new car or truck...
Probably one of the more difficult decisions you will have to make as a consumer is whether to buy or lease your auto. Knowing the advantages and disadvantages of buying vs. leasing a new car or truck...
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